August US nominal retail sales rose more strongly than anticipated, but volume growth remains range-bound with consumers wary of potential tariff-induced price hikes and broadening evidence of a cooling jobs market
A strong finish to last week by US equities helped buoy investor sentiment at the start of this week in Asia. Upside surprises in China’s cyclical data also helped boost investor sentiment. Holding back sentiment, however, were US Treasury Scott Bessent suggesting the recent US equity market rout was a healthy correction and weak Chinese house prices data showing the sector was still in a slump.
• Overnight news: UST Secretary Bessent said “not worried about the markets”; US strikes Houthis; Chinese economic data beats; China to announce steps to revive spending; US President Trump to speak to Russia President Putin Tuesday
• Data and events: US retail sales
• UK Economic: Welfare spending in the crosshairs ahead of Spring Statement
