PBOC: Conducted 1.2 trillion yuan ($164.4bn) outright reverse repo operations in April

UOB economist Ho Woei Chen: China's economy is likely to experience a significant slowdown as trade tensions persist.

🚨Hearing rumors about a US-China trade deal -sources

Shein considering restructuring its US operations in response to potential continued tariffs under the Trump administration -sources

US Treasury to sell $58 billion 3-year notes, $42 billion 10-year notes, $25 billion 30-year bonds next week.

Treasury Borrowing Advisory Committee presentation shows the debt limit has not successfully promoted fiscal responsibility but has hurt the US credit rating and could affect reserve asset status –TBAC minutes

🚨US Q1 REAL GDP CONTRACTED AT AN ANNUALIZED RATE OF -0.3%, MARKING THE LOWEST READING SINCE Q2 2022 [BTFD]

The US economy contracted in the first quarter for the first time since 2022, reflecting the early impact of President Donald Trump’s trade policies. A sharp increase in imports ahead of anticipated tariffs and weakening consumer demand contributed to the downturn.

🚨KALSHI NOW SHOWS A 74% CHANCE OF A U.S. RECESSION THIS YEAR, SPIKING AFTER THIS MORNING’S SURPRISE GDP PRINT

Jobs Down. GDP Down. Consumption Down. Inflation Up.

Trump: This is Biden's stock market not Trump's

NVIDIA CEO Huang: I'm certain we can manufacture chips onshore with the resources of our country

Huang: China is 'right behind' US in AI development

FT: Bessent told Ukraine to be ready to sign all agreements

Navarro: trade talks are moving swiftly, with behind-the-scenes negotiations, especially with China, kept quiet for effectiveness.

Trump: Don't want China's product unless they're fair.

Trump: Major new spending bill in development could surpass tariffs in economic impact. Calls it a "big beautiful bill."

Trump, asked when he'll speak with Xi: It will happen.

Trump admin reaches out to Chinese leaders as olive branch for tariff talks -Yuyuantantian

Ripple offered to acquire Circle’s USDC stablecoin for $5 billion. Circle is said to have rejected the bid as too low.