Recap 6-13-12

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.

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