MACRO
US Factory Gauge Falls to Lowest Since 2020, Employment Measure Drops
US factory activity contracted in March by more than expected, with a closely watched gauge dropping to its lowest level since May 2020 as measures of new orders and employment retreated.
The Institute for Supply Management's gauge of manufacturing activity decreased to 46.3 in March. Readings below 50 indicate contraction. Excluding the pandem...

Much of its population is fully vaccinated, but China's government is still hesitant about what a small fatality rate can do in the world's biggest population.
Shanghai just emerged from a grueling two-month lockdown to relief of its residents. But worries about further "closed management" movement restrictions presist as all districts are required to conduct mass Covid-19 tesing every weekend.
The spread of the highly transmis...