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China gloom hangs over Asia

Although we have seen some interesting political developments across the world over the weekend, it is China that is weighing on Asian markets this morning. China inflation came in slightly above expectations YoY for March rising by 1.50%, while PPI eased back to 8.30% YoY, likely thanks to Covid restrictions crimping economic activity. China's Covid spike threatens economy It is China’s Covid situation that is making Asia nervous.

11-04-2022 03:44 GMT by Jeffrey Halley

US Close - Stocks pare losses on reports ECB working on a tool to tackle yields, Canadian jobs, Oil rebounds, Gold higher, Bitcoin struggles

US stocks pared losses after reports that the ECB is working a crisis tool that could help tackle what seems to be a likely surging bond yield problem for the southern periphery. The ECB has the hardest job of all the other major central banks and this potential tool shows they are trying to get ahead of what will be an unbalanced economic recovery once inflation eases. Wall Street is looking at surging Treasury yields and swapping out tech stocks for more defensive plays such as energy, finan

08-04-2022 14:34 GMT by Edward Moya