SCOREBOARD: Stubborn stocks

Strong Chinese economic data, a US debt ceiling extension and strong earnings all failed to inspire markets as much as expected.

Turns out that China’s economic data no longer excites people. We got nothing – nothing – in response to Friday’s figures showing the Chinese economy accelerating. At the very least the economy is nowhere near a hard landing, which is worth something right? The data showed China’s economy rose 7.8 per cent year on year, up from 7.4 per cent. Industrial production was 10 per cent higher and retail sales were 15 per cent higher. Yet even commodities were reasonably subdued on Friday’s session – with crude flat, gold down smalls and copper up 0.5 per cent.


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