Main Items:
- US Retail Sales Control was flat in May vs +0.3% exp and +0.4% prev, although that figure was revised down to 0.1%. The headline figure declined -0.2% as exp off of strong auto sales. Ex Auto & Gas, however, sales were down -0.1% vs +0.4% exp
- US Core PPI in May was stable at 2.7% YoY vs 2.8% exp
Overseas:
- Swiss Producer & Import Prices was unchanged at -2.3% in May vs -2.0% exp
Upcoming Data:
- Thurs: SNB, EU Core CPI, Labor Costs, US CPI, Jobless Claims
- Fri: BoJ, US Empire Mfg, U Michigan Confidence
- Sun: Greek Elections
- Mon: NAHB Housing Market Index
- Tues: UK CPI, German Zew, Japan Trade Balance
Commentary:
New Yorker: Why we don’t believe in science.