Daily Market Update 8/15/17

Rates inched higher Tuesday following the release of stronger than expected Retail Sales data.  July Retail Sales jumped 0.6%, well above the consensus forecast for an increase of 0.3%.  Excluding the volatile auto component, Retail Sales rose 0.5%, also beating expectations.  The results for both June readings were revised significantly higher as well.  Separately, the Empire State regional manufacturing index rose to 25.2, far above the consensus of 13.0.  Readings above zero indicate expansion in manufacturing in the New York region.  Import Prices rose 0.1%, matching expectations.  No other key data will be released today.

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