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TD strategists Michael Hanson and.....>

US DATA REACT
US DATA REACT: TD strategists Michael Hanson and Brittany Baumann said today's
"July retail sales release surprised to the upside with a 0.6% advance, matching
a gain in the control group. The strong showing in core sales along with strong
upward revisions to May/June suggest Q3 real consumer spending near a 3% pace is
well within reach."
- They added "the strong activity data contrasts with softer inflation readings,
but most Fed officials still expect the former to help pull the latter up to
target in 2018. New York Fed President Dudley was clear yesterday in his support
for another rate hike this year, if the data confirm his expectations."

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