To The Moon

Upbeat US retail sales data dented expectations that the Federal Reserve would start cutting interest rates as soon as March, while the 10-year Treasury rate rose to its highest this year and the VIX fear index briefly hit a two-month high. The rate-sensitive real estate sector of the S&P 500 fell 1.9 per cent to a one-month low.In terms of economic data, the United States reported that retail sales in December were better than expected, up 0.6% month on month, excluding autos, up 0.4% month on month, higher than economists' expectations of 0.4% and 0.2%, respectively, with consumers showing resilience, the prospect of the Federal Reserve to cut interest rates was questioned. As of now, traders are pricing in a roughly 55 percent chance of a Fed rate cut starting in March, down from ab