Velocity and volatility increased yesterday, it just wasn’t in our favor. Retail sales set the tone for the morning, beating economists’ forecasts suggesting the economy is recovering. European data added to the negative momentum overnight. Remember them? Reports show the euro region returned to growth last quarter. Today is light on significant economic data. St. Louis Fed President James Bullard, who backed the decision to continue bond buying, will speak in Kentucky today. Tomorrow is another Jobless Thursday, which has the opportunity to move the market.
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