China Had a Trade Surplus in March

China posted a surprising trade surplus of 5.35 billion for March as export growth increased while imports lagged behind estimates, highlighting  a slowdown in domestic demand and investment growth.

China’s trade surplus in March eclipsed a trade deficit of  (-) 31.5 in February, a low not reached since 1989, according to custom administration data.

Chinese exports for March were 8.9 %, higher than estimated but still significantly lower than 18.4 % for February.

Imports for March reached 5.3% which is sharply lower than earlier estimates of 9% from Bloomberg and Reuters.

On Friday China will release their 1st quarter GDP is expected to be closely watched to provide a economic snapshot of the world’s second largest economy.

Europe

Bond yields of Spanish and Italian bonds are rising again.

Spain’s 10 yr. bond yield rose to 9 basis points to 5.83% while Italy’s 10 yr. bond grew 15 basis points to 5.5%.

Germany reported a trade surplus of 14.7 billion for March.

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