“All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.” – Arthur Schopenhauer

1. Pro-Russian protesters occupied at least nine cities in the east of Ukraine — Pro-Russian armed separatists in several cities in eastern Ukraine have ignored a deadline from Ukraine’s government to disarm, and vacate administrative buildings and other positions they’ve taken up. Ukraine, which blames Russia for the escalating tension, has threatened to carry out a “large-scale anti-terrorist operation” on the separatists.
2. People’s Bank of China disclosed it withdrew 172B yuan ($28B) through repurchase agreements — China’s money supply grew at its weakest pace in over a decade during March. Subsequently, new car sales in China decelerated in March to a 6.6% growth rate, according to the China Association of Automobile Manufacturers.
3. China’s Growth Slows to Six-Quarter Low — Bloomberg, China’s expansion moderated to the weakest pace in six quarters and property construction plunged. 1Q GDP moderating to 7.4% on year from 7.7% in Q4 but topping forecasts for 7.3%. The figure is below the government’s target of 7.5%, although the country’s leaders have indicated that the goal is flexible as they try to implement reform.
4. Fed’s Beige Book Showed consumer spending improved along with the weather — according to the reports from the 12 Federal Reserve Districts, the latest number suggested economic activity increased in most regions, but Cleveland and St. Louis saw declines. February’s Beige Book (released on March 5) blamed Mother Nature for the slowdown.