IMF downgrades growth forecasts, and more . . .

Fast growing economies, including China, India, and Brazil, are slowing in the face of weak demand from western goods market countries, causing the IMF to back off on its forecasts for global growth.

The move is a boon to those criticizing austerity measures by central banks and policymakers worldwide. In the U.S. firms, though, talk of stimulus measures will be overshadowed by poor earnings forecasts. The news is casting a pall on recent equity rallies there.

Hedging on Greece

Hedge fund managers, meanwhile, are starting to put a toe back into the waters of Greece’s economy. The move has pushed the country’s 10-year bonds to double in price since May.

Let’s get small

A separate exchange for small cap stocks? Why not says IPO maven Bill Hambrecht. He says he’d like to see a new stock market devoted to the capital raising needs of smaller operations.