Mercati Nippon Steel says position on planned acquisition of US Steel remains unchanged We might have reached the peak in the de-escalation trade European equities open higher to start the final day of the week USDJPY Technical Analysis – Waller’s scenario #2 is playing out. Now what? ECB's Rehn: Disinflation is on track and the growth outlook is weakening China foreign ministry reaffirms that US should respect international trade rules What are the main events for today? Eurostoxx futures +0.3% in early European trading FX option expiries for 9 May 10am New York cut Japan March leading indicator index 107.7 vs 108.2 prior

Ecunumia (BB) Chinese Exports to US Slump 21% But Soar to Asia and Europe Hungary Inflation Slows Toward Central Bank’s Tolerance Band ECB’s Rehn Favors a Rate Cut in June If Justified by Forecasts Polish Policymakers Intend to Go Slow With Further Rate Cuts Norway Core Inflation Slows More Than Seen, Fueling Rate Bet Swiss Lost Cash Racks Up $1.1 Billion Windfall for Government Trump Team Seeks Tariff Cuts, Rare Earths Relief in China Talks

Ecunumia (FT) The periodic US default freak-out has started early How Berkshire has changed EU backs Ukraine war crimes tribunal in riposte to Putin’s war parade US and UK seal first deal of Donald Trump’s trade war FirstFT: US and UK seal first deal of Donald Trump’s trade war China’s He Lifeng: Xi’s ally leading trade talks with US Milken’s behind-closed-doors tension

The Economist (finance) Trump’s trade deal with Britain will worry allies and rivals alike Why Gen X is the real loser generation Global turmoil has at least one beneficiary: currency traders How Saudi Arabia is cranking up the pressure on its OPEC allies Trump is a threat to Asia’s giant insurers What happens when a hegemon falls? America and China prepare for an Alpine trade clash Buy the dip: the trend that keeps stocks from crashing Warren Buffett has created a $348bn question for his successor Don’t blame imports for the fall in America’s GDP

The Economist (business) Why so many IT projects go so horribly wrong What is behind the staggering ascent of Palantir? Huawei and other Chinese chip firms are catching up fast Eli Lilly looks set to steal Novo Nordisk’s weight-loss crown Bosses beware: the tariff shock is not like covid-19 OpenAI’s flip-flop will not get Elon Musk off its back How China is still getting its hands on Nvidia’s gear Will the trade war capsize shipbuilders?

Christophe Barraud Morning Brief: US-China Trade Talks to Start This Week; China Cuts Key Rate, Reserve Ratio; Focus on FOMC Meeting Morning Brief: Trump-Carney Meeting; Chinese Holiday Spending Inches Up; Merz Fails in Parliament Vote Morning Brief: Some Trade Deals May Come Soon; Taiwan Dollar Jumps Most Since 1980s; Albanese Wins Second Three-Year Term Week Ahead: FED and BOE Rate Meetings; ECB Informal Meeting; BOJ Minutes; Canada Jobs Report; EU Trade Proposals To The U.S. Top 10 Macro/Financial Charts of the Week – w18 (2025) Morning Brief: Trump Bashes Powell; China’s Factory Activity at Slowest Since 2023; China Adopts Law to Protect Private Companies; Eurozone GDP Beat Expectations Morning Brief: Trump to Offer Auto Tariffs Reprieve; Carney Wins Tight Canada Race; China Vows to Stand Firm Morning Brief: Trump’s Polls Decline; Asia Takes Lead in Race for Interim Deals; ECB On Track To Cut Rates Further Week Ahead: Canada Vote; Singapore and Australian Elections; BOJ Meeting; U.S. Employment Report; U.S. and Eurozone GDP; Aussie and Eurozone CPI; Chinese PMIs Top 10 Macro/Financial Charts of the Week – w17 (2025)

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