Retail sales revived last month, rising 1.2% in May, according to this morning’s monthly report from the US Census Bureau. The monthly advance represents a substantial improvement over April’s sluggish 0.2% increase. The news provides support for projecting that US economic growth in the second quarter won’t repeat the weak run in Q1.
Continue reading →

US Treasury yields continued to rise yesterday, with the rate on the benchmark 10-year Note reaching 2.50%–the highest level since last September, based on data from Treasury.gov. Meanwhile, the 2-year yield—considered the most sensitive spot on the yield curve for rate expectations—ticked up to a four-year high of 0.75% on Wednesday (June 10).
Continue reading →

● U.S. Mortgage Applications Surge 8% in Advance of Rate Hikes | WPJ
● U.S. Annual Budget Deficit Smallest in Nearly 7 Years | WSJ
● Bond crash across the world as deflation trade goes horribly wrong | Telegraph
● World Bank Lowers Global Growth Outlook, Urges Fed To Delay Rate Hike | RTT
● S&P downgrades Greece after IMF repayment delayed | Reuters
● Greece bailout talks: stocks surge on rumours of German compromise | Guardian