More talk than action
• Consolidation. Quiet end to last week. US S&P500 hit another record. Bond yields ticked up while the USD remained range bound.• China stimulus. More positive rhetoric but no specifics about the next wave of fiscal stimulus. But this looks to be a matter of when, not if.• Event radar. Locally, jobs figures are due (Thurs). Offshore, ECB meets, while US retail sales, NZ CPI, UK CPI, & China GDP are released this week. It was a rather subdued end to last week across markets. European and US equities ticked up with the S&P500 (+0.6%) touching yet another record high...