In a sign of dramatic economic weakness, the US trade deficit fell to $25.97 bln in February versus a $36.2 bln deficit in January. Imports fell 5.1% while exports rose 1.6%. The deficit with China dipped to $14.2 bln from $20.5 bln. That figure will deal a blow to the reflation trade. One the bright side, the big drop in the trade gap will big a boost for the US GDP calculation.
Canada posted a tiny surplus of C$126, rebounding from a C$1.15 deficit in January.
