Viva Las Comex

69
Fri, May 14, 2021 - 9:35am

As discussed in last night's podcast, there was some hope for a strong finish to the week. Why? A weaker-than-expected retail sales number would lead to bond buying and dollar selling. And that's exactly what we've seen so far.

So here we go. We'd already had a solid overnight with bonds rallying and the POSX dropping...but then came the April US retail sales data. Recall that the March data surged to a record on the back of the latest round of .gov stimmy checks. So what happened in April? No stimmy, no sales.

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Key Economic Events Week of 6/14

6/15 8:30 ET Retail Sales
6/15 8:30 ET Producer Price Index
6/15 8:30 ET Empire State Manu Idx
6/15 9:15 ET Cap Ute and Ind Prod
6/15 10:00 ET Business Inventories
6/16 8:30 ET Import Price Index
6/16 2:00 ET FOMC Fedlines
6/16 2:30 ET Chief Goon Powell presser
6/17 8:30 ET Philly Fed
6/17 10:00 ET Leading Economic Indicators

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