Stocks
US crude stockpiles are growing again.
China’s foreign exchange reserves are still shrinking.
Flows
Germany’s trade surplus became a little less huge.
Japan’s current account surplus got a little bit larger.
America’s trade deficit got a boost from the new iPhone.
Taiwan’s iPhone export boost is now behind it, unfortunately.
Euro zone retail sales growth is looking pretty solid.
Woes
Inflation is slowing but still sky-high in Russia…
…and in Brazil.
Switzerland has the opposite problem.
