Greenbacks
The US is importing (and exporting) tons of deflation.
There are lots of American job openings.
Redbacks
Chinese trade is slumping.
That’s more company for Chinese producer prices…
…and Chinese foreign exchange reserves.
The back half
Taiwanese exports are are slipping.
Money continues pouring into Japan.
South African industrial production perked up a bit.
Brazil’s inflation fever finally broke.
Greece entered its 30th month of deflation.
