Blue Monday follows Black Friday
Markets are kicking off the week on a more cautious footing after Chinese data disappointed relative to expectations, pointing to a stronger disinflationary impulse from the world’s second-largest economy. Industrial profits increased just 2.7 percent from a year ago in October, according to numbers published by the National Bureau of Statistics, down from September’s 11.9 percent and August’s 17.2 percent as global demand weakens and a domestic recovery runs out of momentum. Ten-year Treasury yields are holding near the highest levels in a week, equity futures are retreating, and the dollar is stabilizing as demand for commodity-linked units and emerging-market...