All is quiet on the Southeast front. Chinese President Xi Jinping soothed markets last night in his keynote speech at the Boao Forum. In a great deal of showmanship, he gave global markets exactly what they wanted and needed by promising to raise the country’s limits on foreign investment and lower import duties on products such as cars.
U.S. producer prices fell in March for the first time in seven months, weighed down by a drop in the cost of services and energy products, but the largest annual increase in five years suggested inflation was rising.
U.S. producer prices rose more than expected in January, recording their largest gain in more than four years amid increases in the cost of energy products and some services, but a strong dollar continued to keep underlying inflation tame.