INTERNATIONAL

Japanese Post Record Trade Surplus: Japan’s current account surplus rose to a monthly record of $10.8 billion in February, as exports surged while imports fell sharply. The huge increase in the broadest measure of Japan’s external balances, 77% higher than a year ago, looks certain to aggravate an already high level of friction with Japan’s trade partners. The rising surplus reflects in part the slowdown in Japan’s economy, which reduces demand for imported goods. Weak domestic demand also encourages manufacturers to reduce stocks by selling them overseas.