US DATA: Oct business inv +0.7%, below expections of +1.0% because
retail inventories -0.6% due to +1.8% retail sales. Retail inv ex mtr
veh inv -0.3%, with mtr veh inv -1.3%. Business inv ex. retail auto
+0.9%. There were inventory declines in every retail category except
clothing and dept stores. Business sales +1.4% in Oct, pulling the
inv/sales ratio down to 1.27, still below the 1.30 ratio a year ago. NSA
business sales +7.3% yr/yr, and NSA inv +7.0% yr/yr.