- Retail Sales
- 0.1 vs 0.2 f'cast
- last month revised down to -0.2 from 0.0
Bonds were unchanged overnight and in position to move in either direction in response to this morning's retail sales data. Despite what looks like a modest 0.1 miss, the bond market reaction has been fairly big with 10yr yields dropping nearly 5bps before leveling off with a 4bp gain at 4.242. MBS are up nearly a quarter point.