NEWSFEED HIGHLIGHTS

The UK inflation rate was widely expected to slow in April despite Iran’s continued blockade of the Strait of Hormuz and the resulting disruption to regional oil supplies. However, the scale of the slowdown came as a surprise.

The Office for National Statistics (ONS) said headline CPI rose 2.8% y/y in April, below expectations for a 3.0% print and down from March’s 3.3% rate.

UK price growth is expected to cool temporarily, with reporting anomalies likely to distort the headline consumer price index.

An economists’ poll predicts annual headline inflation slowed three-tenths to 3.0% in April, interrupting the recent uptrend. On the month, CPI is expected to rise 0.9%, after a 0.7% prior increase.

The less volatile core... 

Following the conclusion of President Trump's China visit, the White House said the two leaders agreed that Iran must not control the Strait of Hormuz, citing a shared commitment to global security. Treasury Secretary Scott Bessent announced discussions on a joint Board of Investment, and Trump rounded off the summit by personally inviting President Xi to the White House later this year.

UK politics remains turbulent, with Prime Minister Keir Starmer's position under pressure.

LONDON – Embattled British Prime Minister Keir Starmer received a rare piece of good news on Thursday after the UK economy recorded stronger-than-expected growth in Q1.

In the three months to March, the Office for National Statistics said the UK economy expanded by 0.6%, in line with forecasts but 0.4 percentage points stronger than in Q4.

On the month, economic activity grew 0.3%, confounding... 

Donald Trump met with Chinese leader Xi Jinping, kicking off the first visit by a sitting US president to Beijing in nearly a decade.

The two leaders met at the Great Hall of the People off Tiananmen Square on Thursday morning at a welcome ceremony, featuring honor guards and carefully choreographed pageantry. (BBG – Continue Reading)