At 6.9018 to the dollar, the yuan has appreciated much more than *I* expected before the end of June!  And Chinese prices, at least officially, seem to be moderating "some" at only 7.7% increase during the month of May.

In the U.S., prices seemed to be a bit higher - at least at 0.6% for the month!  That's even higher than the experts were expecting:

                                                     

Notice that the 0.6% is seasonally adjusted, but when NOT seasonally adjusted (in the table) the rate was 0.8%!
At 4.2% per year, interest rates when adjusted for inflation are negative!!!

Let us see - when looking at the New York Times header - an advertisement is for 3.5% per year (HSBC), subtract off the 4.2% and we have a negative REAL rate of interest!!  (China has been negative for over 6 months and MUCH lower!)  Oh, we also forgot to subtract out the taxes you have to pay on the interest earned!  Sigh!