China

Being the first data following The National Congress, we are expecting little in the way of disappointment from China's macro data. However, the slowdown in credit supply has been well telegraphed, and sure enough the data was not pretty with FAI growth at its weakest in 17 years, Retail Sales and Industrial Production both disappoint.

Early indicators for October industrial output aren't positive - the official PMI and export growth both edged down and came in below expectations, writes Bloomberg Economics economist Qian Wan:

In his speech (see here) at the Asia Pacific Economic Cooperation Summit (APEC) on Friday, Trump slammed China, the WTO and his predecessor’s Trans Pacific Partnership (TPP) trade agreement as issues holding back his America-first “Indo-Pacific dream”. Without referencing it specifically, Trump criticised the TPP which he said would “tie our hands, surrender our sovereignty and make meaningful enforcement (of WTO rules) practically impossible”. Trump stated that the US would conduct trade with Asian nations based on bilateral agreements.

S&P futures gave up early gains and were trading down -0.2%, as Donald Trump completes his first Asian tour and as pressure mounts on U.K. Prime Minister Theresa May, sending the pound plunging. European stocks fell, tracking many Asian shares as the Nikkei plunge accelerated.

Authored by James George Jatras via The Strategic Culture Foundation,

There’s no indication that President Donald Trump’s summit with China’s Xi Jinping achieved any breakthrough on North Korea. But why didn’t it? After all, Trump said that China could “fix” the North Korea problem “easily and quickly” and it was just a matter of Xi’s making up his mind to do so.

Authored by Chris Martenson via PeakProsperity.com,

While turbulent during the best of times, gigantic waves of change are now sweeping across the Middle East. The magnitude is such that the impact on the global price of oil, as well as world markets, is likely to be enormous.