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Bond Markets Weaker after Retail Sales Data
Posted to: Micro News
Monday, April 14, 2014 8:39 AM

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Bond markets are off to a weaker start this morning thanks to a combination of modest losses overnight (stocks and bond yields bounced higher together) and additional selling pressure after a stronger-than-expected Retail Sales report.  Fannie 4.0s are down 4 ticks at 104-15 and Fannie 3.5s are down 6 ticks at 101-06.  10yr yields are up 3.1bps at 2.6. 

Retail Sales

  • +1.1 vs +0.8 forecast, biggest rise since Sep 2012
  • Excluding Autos/Gasoline +1.0 vs +0.4 last month

The only other economic data this morning is Business Inventories at 10am, which isn't typically a market-mover.  Of greatest concern at the moment is the fact that this post-data weakness is a vote in favor of the potential technical resistance discussed in this morning's commentary.

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