U.S. retail sales fall; rate rise unaffected

Unemployment may be low in the U.S. but U.S. household spending went backwards again as vehicle sales fell nearly 1%. According to the latest “advance” sales numbers released by the U.S. Census Bureau, February retail sales shrank by 0.1%. U.S. financial markets reacted by sending bond yields lower at the long end. By the end of the day, 2 year yields were 1bp higher at 2.26% while 10 year yields...

read full story