Weakness in US equities continued today as US treasury yields marched higher on strong consumer data. March retail sales came in hotter than expected with the headline number coming in at 0.7% MoM (est. 0.4%) and sales ex auto at 1.1% MoM (est. 0.5%). In addition to the jump in March retails sales, all the February sales data was revised upwards. Traders watched at the US10YR climbed firmly above 4.5% and the US2YR bang its head against the resistance level of 5%. We have not seen these rate le…
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