Headlines discussed at LNWM’s Monday morning briefing:
— US retail sales in July rose 1.2% vs 2.1% expected; levels are now back to where they were before Covid-19 but appear to be slowing.
— US consumer prices rose more than expected in July — up 0.6%, the biggest monthly increase in nearly 30 years amid broad gains in the cost of goods and services.
— Russia became the first country to register a Covid-19 vaccine, although there are doubts of its efficacy and safety; full-scale production to begin this September.
— China bought less than 25% of its promised $36.6 billion in US agricultural output in the first half of 2020, Chinese customs data showed.
— US industrial production rose 3% in July, marking the third-straight monthly increase.
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