“A Complete Mess” – China Stocks, Bonds, Commodities Crumble As Trade Data Disappoints

Jon Energy

The forced deleveraging of China’s WMP-driven excess was not helped overnight by disappointing trade data as both import and export growth slumped.
April Imports grew at just 11.9% YoY (in USD terms), dramatically less than the 18.0% expectations and well down from March’s 20.3% growth.
April Exports grew at 8.0% YoY (in USD terms), less than half the growth of March (16.4% YoY) and well below the 11.3% expectations.
Bad news also hit the energy space after Saudi officials desperately triued to talk up OPEC production cut deal extensions, China’s trade data showed a collapse in oil demand in April (down almost 12%)…

This post was published at Zero Hedge on May 8, 2017.