MondayChina’s inflation data over the weekend surprised to the downside as the economy continues to face deflationary pressures:CPI Y/Y -0.5% vs. -0.1% and -0.2% prior.CPI M/M -0.5% vs. -0.1% expected and -0.1% prior.Core CPI Y/Y 0.6% vs. 0.6% prior.Core CPI M/M -0.3% vs. 0.0% prior.PPI Y/Y -3.0% vs. -2.8% expected and -2.6% prior.The November New York Fed survey for inflation expectations showed the 1 year ahead expectations falling but the 3 and 5 years ahead remaining unchanged:One year seen at 3.4% vs. 3.6% prior.Three year ahead unchanged at 3%.Five year ahead unchanged at 2.7%.Respondents see moderating wage growth.Rent seen at 8% vs. 9.1% p
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