Japan data - Household spending big miss on estimates: Down 0.1% y/y (vs. exp +0.4%)

Just noting this, the much bigger market moving news is:

• Trump has instructed Treasury to consider another $100bn of tariffs on China

• Yen up, AUD down: President Trump issues order to consider MORE tariffs on China

Anyway ... the data for those tracking:

Overall h'hold spending for March -1% y/y, ...biggest drop since Swedish House Mafia April of 2017

• expected 0.4%, y/y, prior 2.0%

Terrible result ...

OK back to the trade war!