S&P: Still holding at this year’s high as the US quarterly earnings season starts. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

S&P SHORT TERM TRADER: Square.
S&P POSITION TAKER: Short at 2800; stop above 2900. Target 2550.

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China trade widens Surplus 220 billion yuan

Chinese March trade data released this morning showed a better than expected surplus of 220 billion yuan, up from 34.4 billion in February (admittedly impacted by the Lunar New Year holiday). Measured in local currency imports fell 1.8 per cent from year-ago data, and exports rose 21.3 per cent. In US dollar terms the trade surplus was $32.6 billion, imports off 7.6 per cent and exports rose 14.2 per cent.

CNBC reports that yesterday World Bank president David Malpass said that there was too much debt in the world. ‘’There are challenges facing the world in terms of how do you have transparent projects that are high quality, where debt is transparent. China moved so fast that in some part of the world there is just too much debt’’. No kidding, Sherlock.

Financial Markets and Political Commentary
 

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