Upbeat risk sentiment
• Positive tone. Solid start to the week for risk assets. Equities rose, as did copper. USD softer. NZD (+1.3%) & AUD (+1%) outperform.• Macro trends. China data showed signs of improving momentum. Topline US retail sales weaker than expected. Growth trends weighing on the USD.• Central banks. Over coming days the Bank of Japan, US Fed, & Bank of England meet. Will the US Fed be more focused on inflation or growth? Global Trends Last Friday’s burst of market optimism has carried over into the new week. The equity market rebound extended with the US S&P500 (+0.6%) recording its...