* House Speaker McCarthy meets with Taiwan’s president, defying China
* Wall Street should worry about debt-ceiling risk, says House Speaker McCarthy
* France’s Macron begins talks with China’s Xi Jinping
* US-China tensions will cost world economy 2% of output, estimates IMF
* China service sector growth accelerates in March
* Norway is now Europe’s main supplier of fossil fuels
* US services sector growth eases more than expected in March
* US private hiring rose less than expected in March via ADP data:

US 10-year Treasury yield falls to 7-month low with arrival of softer economic data. “The narrative has shifted so dramatically from four weeks ago, and clearly the Fed-speak has not been enough so far to arrest the fall in yields,” says Ed Al-Hussainy, a rates strategist at Columbia Threadneedle Investments. Jack McIntyre, portfolio manager at Brandywine Global Investment Management, advises: “We are seeing some softness in the labor numbers and weaker data is having more of an impact on the Treasury market” and “We are positioned for tightening financial conditions working their way through the economy.”