Asia

• Global stocks, dollar and oil cool ahead of Doha meeting (Reuters)
• Oil Falls Before Doha as Global Markets Brace for Weekend Risk (BBG)
• China Growth Slows; Revival Policies Appear to Gain Traction (WSJ)
• White House hopefuls Clinton, Sanders joust in Brooklyn brawl (Reuters)
• Trump talks up 'New York values' as protesters demonstrate against him (Reuters)
• Sanders Can’t Clarify Wall Street Plan in Testy Clinton Debate (BBG)
• Goldman's Blankfein Said to Push Deepest Cost Cuts in Years (BBG)

Good news is still bad news after all.

After last night's China 6.7% GDP print which while the lowest since Q1 2009, was in line with expectations, coupled with beats in IP, Fixed Asset Investment and Retail Sales (on the back of $1 trillion in total financing in Q1)...

• Global shares reach four-month high, forex hit by Singapore sting (Reuters)
• Dollar Rally Hits Commodities as Europe Halts Global Stock Gains (BBG)
• Currencies Across Asia Fall Sharply Against U.S. Dollar (WSJ)
• IEA expects limited impact from oil output freeze at Doha (Reuters)
• IEA Sees Oil Oversupply Almost Gone in Second Half on Shale Drop (BBG)
• BofA Profit Declines 13% on Trading Slump, Energy Reserves (BBG)
• BlackRock quarterly profit falls 20 percent (Reuters)

In another quiet overnight session, the biggest - and unexpected - macro news was the surprise monetary easing by Singapore which as previously reported moved to a 2008 crisis policy response when it adopted a "zero currency appreciation" stance as a result of its trade-based economy grinding to a halt.

After a brief hiatus during which central banks refrained from stimulating their economies by the only way they know how, i.e., devaluing their currency through monetary policy, moments ago Singapore broke ranks when its central bank, the Monetary Authority of Singapore, unexpectedly eased monetary policy and drew a line against further appreciation when it announced that it would move to zero-percent appreciation in its currency.