According to the Bloomberg information provided below, retail sales in the US have failed to meet expectations across every major category. When paired with the milder labor and inflation reports from the past week, these new numbers will once again pull down market anticipation for an interest rate increase this September. Consequently, we can expect a reduction in front-end yields. At the same time, the packed schedule of upcoming corporate and sovereign bond issuances will keep weighing on longer-end yields.

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