Oil And China. Because What Else, Right?

It's Monday. Hell yeah! Let's start in China, because... well... because where else, right? We got some data overnight, and it all missed, although not dramatically. Here's the quick rundown: CHINA APRIL RETAIL SALES RISE 10.7% Y/Y; EST. 10.8% CHINA APRIL INDUSTRIAL OUTPUT RISES 6.5% Y/Y; EST. 7.0% CHINA JAN.-APRIL FIXED INVESTMENT RISES 8.9% Y/Y; EST. 9.1% Goldman isn't too worried: Although April sequential activity growth weakened from March level, it should be recognized that the le