Retail sales for March rose 0.7% up from the expected 0.3%. February was revised upward from 0.6% to 0.9%.

When we strip out Autos and gas, sales rose 1%.

While these numbers suggest a resilient consumer, there may be signs of pressure and a potential slowdown in spending, though only time will confirm this.

Bonds sold off sharply after this release meaning a hit to the rates. A reminder about the FEDs.

Quantitative Tightening – (QT) is the selling of Bonds/Securities from their balance sheet.

The FEDs have indicated Quantitative Easing – (QE) or the buying of Bonds/Securities.