April 17, 2019 China Surprises to the Upside by Lester Murray

Investors were greeted this morning by the news that the Chinese economy got through its first quarter in a lot better shape than many had expected. New reports for GDP, Retail Sales, and Industrial Production all came in better than expert analysts had predicted, and provided an upward push to equity prices all over the world. Bond prices, as one might have imagined, went the other way a little bit. But that didn't last long. The release of some disappointing corporate earnings have dimmed the earlier glow of a short-lived stock rally and bonds have recovered nicely.  Ten-Year Treasuries are pretty much flat for the day at 2.58%.  In another surprise, America's Trade Deficit narrowed when it was expected to widen. January's -$51.1B shortfall became -$49.4 in February according to the Census Bureau.