US retail sales jump in July on back of vehicles sales

Summary: US retail sales up 1.0% in July, more than expected; annual growth rate accelerates to 2.7%; Westpac: result driven by higher vehicle/parts sales; US Treasury yields rise; rate-cut expectations soften; ANZ: do not signal imminent recession; higher sales in ten of thirteen categories; vehicle, parts sales again largest single influence on month’s result. US retail sales had been trending up since late 2015 but, commencing in late 2018, a...

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