Chinese CPI / PPI sound like they were basically in line with expectations.
China may be, at least temporarily, pause in rate hikes to contain inflation.
Still remains to be seen whether the Communists can engineer a soft landing for their economy, over time.
Asian market response seems muted, so either it is buy the rumor, sell the news (powerful stock market rally a few days ago, where both defensive and economically sensitive stocks all went up, which, according to madman Cramer, was due to call by JP Morgan's global market strategist which said Chinese inflation had turned the corner, at least for now), or Obama's speech is being discounted as initial re-election salvo that grid-locked Congress will refuse to implement.