Top-of-mind economic news as we start the week:
— The U.S. Consumer Price Index (CPI) was flat in October and up just 3.2% annualized over the past 12 months, marking a two-year low.
— U.S. retail sales were slightly down in October (minus 0.1%) unadjusted for inflation; this is the first monthly decline since March.
— The meeting between Chinese and U.S. presidents Xi-Biden was cordial and ceremonial without seemingly accomplishing much.
— Japan’s economy contracted by 2.1% in the third quarter, as both spending and investment declined.
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