Chinese retail sales disappoint in November, sparking potential stimulus measures and low borrowing costs

From Investing.com: 2024-12-16 00:36:12

China’s retail sales in November disappoint, rising just 3.0% y/y instead of the expected +4.6% y/y. House prices continue to fall, but industrial output remains steady. Officials discuss stimulus measures, but credit data shows low borrowing costs aren’t encouraging investment.

Chinese bond yields hit record lows, prompting the central bank to check with commercial banks. Reports suggest Beijing may let the yuan fall, drawing criticism from Trump’s trade adviser. In South Korea, Han Duck-soo takes over as President Yoon is impeached.

Markets await the Fed meeting, with a rate cut almost certain. Chair Powell’s guidance and FOMC dot plots will be closely watched for future rate cut expectations. Other central banks are expected to hold, except the Riksbank which may cut rates.

Bitcoin surges above $106,000 after Trump mentions creating a U.S. bitcoin strategic reserve. Key events today include appearances by ECB officials, PMIs for Europe and the U.S., a speech by Bank of Canada Governor, and the Empire State Manufacturing Survey for December.



Read more at Investing.com: Chinese consumers shut up shop By Reuters