After two months of nothing, the avalanche of actual government-supplied macro data begins in earnest with Retail Sales (for September). BofA's omniscient analysts expected a small beat...
But, for once, they were off with headline sales rising just 0.2% MoM (+0.4% MoM exp) but still rising for the 4th straight month...
Excluding Autos, sales were up 0.3% MoM (in line with expectations) but Ex Autos and Gas it was a disappointment, rising just 0.1% MoM (+0.3% exp).
Motor Vehicles and Nonstore Retailers saw sales drop the most while Gasoline Stations and Food Services & Drinking sales rose the most...
Perhaps worst of all is the 0.1% MoM decline in the Control Group - which is used in the GDP calculation - considerably worse than the +0.3% MoM expectation...
Finally, we note that 'real' retail sales are higher YoY for the 12th straight month...
No more Fed rate cuts ... Not even on Predyx Market??
https://beta.predyx.com/market/fed-decision-in-december-1761865792