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Doves Singed By Hot US Retail Sales
US retail sales were much stronger than expected in this week's only top-tier data release out of the world's largest economy.
If you were already predisposed to fade recent extremes in rate-cut pricing, the nominal spending update will harden your hawkish conviction.
The headline showed a 0.6% increase for December, much better than the 0.4% economists expected.
It was the eighth increase in nine months, and it doesn't exactly scream "slowdown." Eight of 13 categories showed an increase. S
