US Retail sales for June were strong. The headline print was +0.6% vs -0.4% expected. May’s print was revised from -1.3% to -1.7%. In addition, Retail Sales ex-Autos was +1.3% vs +0.4% expected. May’s print was revised from -0.7% to -0.9%. Although the revisions for May were to the downside, June’s data more than makes up for them. What are economic indicators? “Don’t underestimate the American consumer” is a phase often thrown around Wall Street. When the economy is in trouble, the consumer seems to have learned a valuable lesson from the both monetary and fiscal policies: SPEND! With easy monetary policy and more ... (full story)