US savings rate moderates as stimulus impact fades. Disappointing revisions to German and French Q1 GDP. Japan’s unemployment rate ticks higher. Strong prospects for Australia’s private capex.
Global equities rally led by Australia and Japan. Italy’s yield curve flattened as ECB reiterated dovish stance on PEPP. Yen at fresh low this month on reports of extension of emergency. Continued upside in oil on US demand recovery.
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