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Strong Beat On Data, But Market Underwhelmed

DATA REACT

Strong beat for retail sales and better revision; Philly Fed and Empire Manufacturing beat; Initial jobless claims were lower than expected as well (though weaker revision to prior week)

  • However control group retail sales missed consensus, 6.9% vs 7.2% exp.
  • Perhaps on the latter (or on the notion the market is already looking further down the road at the longer-run recovery), Tsys up a few ticks in the aftermath, dollar slightly softer.

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