Top-of-mind headlines as we start the week:
— US consumer prices were up 5.3% in August vs. year-ago and 0.3% vs. June, mostly due to food and energy costs.
— The US and EU pledged to cut methane emissions 30% by 2030, asked other countries to join; in US, oil-and-gas industry produces 30% of methane released.
— US retail sales rebounded in August, rising 0.7% from July vs. an expected drop of 0.8%, indicating that consumers are continuing to spend on goods and services, despite new Covid-related restrictions.
— Evergrande, China’s 2nd largest real estate company, is on the brink of defaulting on some of its debt, which totals USD$305 billion; Chinese gov’t expected to come to the rescue.
— The UN expects the global economy to grow a historically high 5.3% in 2021 and slow down to a more moderate level of 3.6% in 2022.
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