China

In a story that itself seemed like it may be an April fool's joke, the WSJ writes that China’s official Xinhua News Agency has issued a warning on its viewpoint commentary microblog that antics over April Fool’s Day - a tradition it was first exposed to only in the late 1970s when it gradually opened up to foreign cultural influence - are "inconsistent with core socialist values" and at odds with Chinese cultural tradition.

It appears Goldman clients are once again taking a bath. Having proposed that with monetary concerns temporarily sidelined, "good news should be good news for risky assets," today's better-than-expected jobs print (following China's better than expected PMIs) has sent stocks lower, bonds higher, and crack gold and oil... 

Stronger USD has sent commodities reeling...

Extending overnight losses from China's "Good" news...

But bonds are bid as stocks slip lower...

For Japan, the post "Shanghai Summit" world is turning ugly, fast, because as a result of the sliding dollar, a key demand of China which has been delighted by the recent dovish words and actions of Janet Yellen, both Japan's and Europe's stock markets have been sacrificed at the whims of their suddenly soaring currencies. Which is why when Japanese stocks tumbled the most in 7 weeks, sinking 3.5%, to a one month low of 16,164 (after the Yen continued strengthening and the Tankan confidence index plunged to a 3 year low) it was anything but an April fool's joke to both local traders.

Kim Jong-un has threatened China with a “nuclear storm” calling his old ally “the detested enemy” for taking part in recent UN sanctions against North Korea. The Mirror reports: The portly despot reportedly launched a scathing attack on Beijing for taking part in UN sanctions against his regime.

Military experts have warned that China is about to deploy intercontinental ballistic missiles capable of delivering a nuclear warhead to mainland America.  As Chinese President Xi Jinping meets with officials in Washington DC for the Nuclear Security Summit, military experts have raised serious concerns over China’s DF-41 nuclear missiles: “Given the number of real reported tests, it is reasonable to speculate the DF-41 will be deployed to PLA Strategic Rocket Force bases in 2016,” said Richard Fisher, senior fellow at the International Assessment and Strategy Center.