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Markets cautious on underwhelming China GDP and Brexit uncertainty
Although a Brexit deal has finally been agreed between the EU and UK, market sentiment is cautious today. The overnight disappointment in Chinese GDP is certainly playing a role here. Economic growth for Q3 slipped to a 27 year low at +6.0% and below the consensus of +6.1%. Although there was a glimmer of light coming from better than expected September Industrial Production (Retail Sales and Fixed Asset Investment were as expected), the Chinese economy is slowing more than expected. This of course raises the prospect of additional stimulus to manage the slowdown, but the immediate impact is to leave markets a tad ... (full story)
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