Look What Happened

» Posted by on Oct 9, 2018 in Announcements, Shop Talk | 0 comments

Redbook: A weekly measure of comparable store sales at chain stores, discounters, and department stores. The report offers early indications on ex-auto ex-gas retail sales. Released 10/9/18 at 8:55 AM EDT.  Previous Store Sales Y/Y change 5.7% Actual 6.5 %

Although a very volatile reading the trend has been upward all year. Jan 17 it was posted at 2.6%, June 19 at 4.7%, and now 6.5%. It remains to be seen if a rising interest rate environment will have a material negative impact as many believe.

All the talk has been about these recent downward moves in the major indices due to the climb in yields and the Fed Fund Futures point to an 80% chance the Fed will act again in December. Should the Fed slow down? Or maybe concentrate more on their balance sheet.

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