June US retail sales lower than expectations

  • Prior was -0.1% (Revised up from -0.3%)
  • Ex autos -0.2% vs +0.1% exp.
  • Prior ex auto -0.3% (unrevised)
  • Ex autos and gas -0.1% vs +0.4% exp
  • Control group -0.1% vs +0.3% exp

Disappointing numbers for the retail sales in June. Although there was a revision to the last months headline number, the string of numbers were all lower than expectations.

  • The USD is moving lower after the miss (CPI was also a bit weaker).
  • US stock futures are still mixed but the Nasdaq futures are up 13 points (which is better). The S&P futures are unchanged.
  • US debt yields are lower with the 2 year down about -3 bp and the 10 year down about -4 bps now (from down about -1 bp before the number).