OECD cuts global outlook.

 The OECD has reduced its world economic growth outlook to 3.1% for this year and 4% for 2014 from prior forecasts of 3.4% and 4.2% respectively. In its twice-yearly Economic Outlook, the organization predicted that the U.S. will improve and that Japan will rebound, while the recession-hit eurozone will fall further behind. The OECD also warned that the withdrawal of QE by central banks could cause spikes in bond yields and harm the world economy.