Producer prices eased month over month 0.3%, driven by lower oil prices, and excluding food and energy, prices were flat month over month. Retail sales for October rose 0.5%, beating estimates of a 0.3% increase. Excluding auto sales, retail sales rose 0.6%. Sales of electronic goods were up 3.7%.
Over all this morning’s reports were positive for the U.S. economy. However, Europe remains the focus of the global markets and resolution of the financial woes in those economies is far down the road. U.S. Treasuries have improved slightly with the yield on the 10 year note at 2.02%.
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