Bonds Unfazed by Econ Data

Bonds Unfazed by Econ Data

If you had to guess at the bond market’s response this morning based solely on the outcome of the 8:30am economic data, you’d be very well justified in assuming some selling/weakness.  While that may have been the case for a few moments, it was quickly replaced by bond buying as traders parsed the Retail Sales internals, revisions, and especially the inflation-adjusted spending implications. In a nutshell, the report showed an ongoing downtrend…