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There’s a decent chance that markets will surge out of the gate tonight on the back of the Spanish bailout.But there’s another possible driver of risk-appetite, and that’s China.
Remember, going into the weekend, there was a big fear that because China announced a rate cut on Thursday, that we’d get a slew of really hard-landing-y data.
But the data hasn’t been a disaster.
It hasn’t been spectacular, but generally, retail sales and industrial production have been close to being in line with expectations, and actually the May trade data was very strong, as WSJ reports.
So between the Spain stuff and the China non-disaster, it was more than a benign weekend.
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