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Retail Is Flat Slowing Inflation Fears

 

Today’s Retail Sales data (0.0 vs 1.0 forecast) gives us hope that cooler heads will prevail.  Bottom line, as of this morning the mid-week drama looks to have given way to the same old trading range that’s been intact since April 7th. Specifically, a ceiling near 1.68% in 10yr yields is what we’re hoping to hold. The morning’s other data is less significant from a potential market movement standpoint, but isn’t completely irrelevant.  In fact, we know the Fed is keeping an eye on consumer inflation expectations and the 10am Consumer Sentiment report is one of the only places to track such things.

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