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Good morning. (Today's Smart Brevity: 1,183 words, < 5 minutes.)

Situational awareness:

  • OxyContin maker Purdue Pharma filed for Chapter 11 bankruptcy protection on Sunday night, days after reaching a tentative deal to settle some 2,000 opioid lawsuits. (CNBC)
  • China missed expectations for its industrial output, retail sales and fixed asset investment as its economy slowed further in August. (Bloomberg)
  • U.S. 30-year fixed mortgage rates saw the biggest short-term jump since the week following President Trump's election in 2016. (CNBC)

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