Tuesday: The February Consumer Price Index (CPI) was up 0.2% and the core rate was up 0.2% – which is bland news.
Wednesday: February Retail Sales were DOWN 0.1% – and without auto they were up 0.2% (auto sales pulled them down, in other words). February Producer Price Index (PPI) was up 0.2% with the core number up 0.2%. Both of those are also middle, non-market moving percentages.
Had both of these been stronger, they not only would have led to higher rates, but also given fuel to the Fed’s rate hike possibility.