Group 1: PPI and GDP Trends - PPI has shown a positive year-on-year growth of 0.1% in March, earlier than market expectations of the second quarter[1] - PPI is expected to maintain a high level with a month-on-month increase of 0.6% in March, driven by external shocks and rising oil prices[1] - For the second quarter, PPI year-on-year is projected to exceed 1%, and in the third quarter, it may rise above 2%[1] Group 2: Economic Indicators - The GDP deflator is expected to turn positive in the first quarter, potentially exceeding 1% in the second quarter and maintaining above 1% for the year[2] - This indicates that nominal GDP growth in 2026 will be significantly higher than last year[2] - Historical trends suggest that a rebound in nominal GDP growth typically pressures the bond market while benefiting the equity market[2] Group 3: Market Dynamics - Production remains robust, with significant year-on-year increases in rebar, medium-thick plates, and cold-rolled plates, indicating strong demand in real estate and infrastructure[12] - Consumer spending momentum is weak, with high-frequency indicators showing a decline in consumption outside of passenger vehicles[17] - External trade faces risks due to geopolitical tensions, particularly the ongoing conflict in the Middle East affecting global shipping and trade dynamics[23]

Group 1: Market Reactions - U.S. tech index futures are under pressure due to concerns over President Trump's failed attempt to acquire Greenland and potential mutual tariffs with European nations, leading to a 2% decline in the Invesco QQQ Trust Series in pre-market trading [1] - Bitcoin has fallen to $90,000, down 8% from its recent high, negatively impacting crypto-related equities such as Strategy (MSTR), Galaxy Digital (GLXY), and IREN (IREN), which are down 6% to $164, 8% to $32, and 8% to $53 respectively [3] - The DXY index, which measures dollar strength against major currencies, has decreased by 0.5% to 98.5 [5] Group 2: Commodity Performance - Gold is trading above $4,700 per ounce, reflecting a 9% increase year to date, while silver has surpassed $95 per ounce, showing a 32% rise in the same period [4] Group 3: Bond Market Dynamics - U.S. Treasury yields have risen, and Japanese long-dated bonds are under pressure, with yields on Japan's 30-year government bonds surging close to 4%, indicating stress in the global bond market [4]