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Prime Minister Mishustin Begins Visit to China

RUSSIA
  • Prime Minister Mikhail Mishustin begins his visit to China today, where he is scheduled to meet with Chinese President Xi Jinping and Premier Li Qiang. Cooperation in industry, energy, transport infrastructure, agriculture and other areas will be discussed, with the leaders planning to sign a number of bilateral agreements after negotiations.
  • Ukrainian President Volodymyr Zelenskiy suggested his country was losing control of Bakhmut after months of fierce fighting but downplayed Russian claims it now fully occupied the eastern city, Bloomberg report. Russia claimed overnight that the Wagner mercenary group had taken Bakhmut, with the Defense Ministry saying in a statement that the forces “completed the liberation of the city.”
  • Looking ahead, PPI data is the key release this week, with markets expecting a 13.7% y/y drop in April (Prior: -10.7%).

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