Chinese assets have had a relatively quiet....>

CHINA: Chinese assets have had a relatively quiet day despite early Bloomberg

headlines noting an impasse in US-China trade talks over IP issues, with solid

China GDP, industrial output, FAI, and retail sales data providing some support.

USDCNH trades broadly flat at 6.0800 just shy of Friday's highs. Bulls need to

close above here to extend the break above the channel top.

- Stocks remain up ~0.5% despite being off earlier highs following the failure

of the Hang Seng to sustain a break above the Dec 3 highs. 

- In fixed income markets swap rates have shown little action but the drop in 10

year futures has extended 20 ticks while 10 year cash yields have edged higher.

This bond market weakness is worth noting given the growing expectations of PBOC

easing.