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Retail sales were weaker than expected in April, furthering concerns about the state of the consumer amid sticky inflation and higher interest rates. Retail sales were flat in April from the previous month, according to Census Bureau data. Economists had expected a 0.4% increase in spending, according to Bloomberg data. This marked a slowdown from the 0.6% ...
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Markets expressed mild relief toward a pair of US inflation and consumer spending prints that change nothing yet for the FOMC. The result had markets gently piling into the US front-end, driving a weaker dollar, and putting a bid to US equities. That’s a sensible market reaction in a positioning sense that has been programmed to be surprised by higher core ...