How increase sales in retail in United States

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retail sales coming in a bit firmer than expected 0.2% the previous number it was one point six this is for October month on month we were looking for 0% so a bit Furman expected but much much lower from the previous month which is revised higher to one point nine percent so that's retail sales doubt with let's whip through CPI shall we 0.1% is the print month on month the CPI back out food and energy it comes in at 0.2 both of those numbers bang in line with what was expected year on year we come at 2% bang in line with what was expected a drop from two point two and if you back out food and energy on the year-on-year number a little bit firmer at 1.8% though more broadly Alex the story we were kind of expecting yeah and what's interesting if you look at some of the details here you have a housing costs were a big factor in helping boost the CPI they're up by three tenths of one percent medical was also up and importantly you had used car sales were actually up seven tenths of one percent that ends nine months of declines that had been a weight earlier so on the margin kind of a little bit of support there for the inflation data just want to whip through what the markets doing off the back of this largely unmoved if you're looking at ten-year Treasuries we're already down about three or four basis points on a 10-year yield we stay there we take just a little bit hard but 234 is how we trade on the 10-year I want to check out the FX market a lot of euro strength over the last week it's meant some dollar weakness given the weighting in the dollar index we're still lower by about a quarter of 1% so the dates are not really a big move from what we were expecting Michael gapin of Barclays an analyst or JP Morgan Asset Management still with us Michael the hurricane affect how it influenced the previous month's numbers and the read we just got just walk us through it right so you see it both in CPI and retail sales so last last month we had a big boost in energy at the headline level which pushed headline CPI higher that came off this month I think what you're seeing there at the core as you mentioned Scheldt strengthen shelters not a new story so I think that's that's fine the used-car story is probably a hurricane response we had a surge in in autos and in the September October period it likely bled down into used car sales I think the market will look through the unexpected surprise in core if they think it's driven by by autos retail sales that as you mentioned they're very strong above 1% print last that was driven by by both the surging gasoline prices so you'd see that prices at the pump went higher yeah but also auto sales were really strong the last last month coming off of that is is why the headline is is weaker but underneath core is okay