China data disappoint-Wall St Banks14 Dec 2018 14:09
Chinese data disappoints
MARKET OUTLOOK
by The Trader (The IC on-line)
Data published this morning by China’s National Bureau of Statistics showed that both industrial production and retail sales dipped again last month. The annualised pace of growth in industrial production fell to 5.4 per cent, from 5.9 per cent in October, the slowest since February 2016. Retail sales grew by 8.1 per cent in the year to November, the slowest since 2003 and down from 8.6 per cent in October.
The Financial Times reports this morning that Wall Street banks are trying to quickly offload leveraged loans they hold on their books. As well as slashing the price offered, new loans are being granted on less advantageous terms. Often used to finance private equity buyouts, central banks have been warning of the risks they pose.