Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Global stock markets are nudging higher as investors brace for president Joe Biden to propose a $6tn trillion spending package when he unveils his first budget later today. Biden is expected to propose record federal spending of $6tn in the 2022 financial year, starting in October, rising to $8.2 trillion by 2031, according to a report in the New York Times.
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