Institution comments on US retail sales data: The claim of unexpectedly strong US economy is shattered
After retail sales unexpectedly dropped, the yield on the two-year US Treasury bonds fell to 4.5%, shattering the notion of an unexpectedly strong US economy. Tuesday's CPI data delayed traders' bets on rate cuts, while today's data indicates that consumers are slowing down, signaling a dovish stance. This will weigh on the US dollar and potentially boost rate-sensitive stocks.
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