US: Focus on the retail sales – Rabobank

Michael Every, Head of Financial Markets Research at Rabobank, suggests that the focus of today’s Us session will be on the release of the retail sales data.

Key Quotes

“Expectations are 0.6% headline and 0.5% ex-autos. Given how weak last month was, any further downside surprise is likely to see Treasury yields retrace the recent sell-off further.

We also get US PPI, which is seen as far from inflationary at 0.2% m-o-m headline and just 1.2% y-o-y ex-food and energy.

After that it’s the BoE’s Carney speaking, then the US October Michigan consumer confidence survey, and lastly we get Yellen speaking in the European evening.”