Macro Briefing: 5 April 2018

US-China trade battle: minor bump for economy if it doesn’t escalate: USA Today
White House says trade tariff talk is part of a negotiating tactic: NY Times
SE Asia considers trade-war blowback with plans for policy changes: Bloomberg
GOP to Trump: a trade war could have political cost in Nov election: Bloomberg
US expected to impose more sanctions on Russia: Washington Post
ADP: US private employment up a strong 241,000 in March: MarketWatch
ISM Non-Mfg Index posted slower but still-solid growth for US in March: CNBC
PMI: US services sector growth eased in March but remained strong: IHS Markit
Broad-based increase reported for US factory orders in Feb: Reuters
ADP estimate of US private payrolls: +1.9% y-o-y in March, highest in 18 months: