SCOREBOARD: China push

Chinese retail spending data should help buoy the market, despite Moody's raising red flags and tempers in Italy.

The stage looks to have been set for a solid start to the trading week. For this we can thank Chinese data on Friday showing still solid growth. In particular, retail spending is growing at double digit rates (13.7 per cent y/y) and industrial production isn’t too far behind (9.5 per cent y/y). What got less attention was the fact that Italy had a hugely successful three year auction Friday night – despite the best efforts of Moody's.

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