- Retail Sales
- 0.7 vs 0.5 f'cast, 0.4 prev
- Retail Sales excluding autos
- 0.2 vs 0.4 f'cast, 0.2 prev
There are several popular "internals" to examine when it comes to Retail Sales, but the only notable example in today's report is the "excluding autos" line item. At the risk of stating the obvious, it suggests retail sales weren't quite as hot as expected once we factor out the volatile auto sector.
Bonds haven't done much with the news. Yields were slightly higher overnight and actually fell a bit in the wake of the data. 10s are still up 2.3bps at 4.424 and MBS are down 3 ticks (.09) in 5.5 coupons.
