US and China face economic headwinds as retail sales and lending falter
US retail sales fell unexpectedly while China's bank lending plummeted to record lows, signalling economic weakness in both nations.
US retail sales took an unexpected dip and consumer sentiment also declined. China's bank lending fell to record levels. Taiwan and Malaysia showed strong economic expansion, while India's bank lending surged. The US 10-year treasury yield sits at 4.69%, gold prices remained stable, and oil prices firmed. The New Zealand dollar is trading at 58.9 US cents.
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Weekend briefing: Both the US and China have economic issues
US retail sales take an unexpected dip; US sentiment also dips; China bank lending in record fall; Taiwan & Malaysia expand fast; India bank lending leaps; UST 10yr at 4.69%; gold stable; oil prices firmer; NZ$1 = 58.9 USc; TWI-5…