US Wholesales Fall Unexpectedly

Last December, inventories of US wholesales unexpectedly fell for the first time in six months. US wholesalers’ inventories slid 0.1% month-on-month, versus market estimate of a 0.4% increase to a seasonally adjusted US$497.65 billion.

Retail Sales

The decline was caused by a wide range of products, including autos, furniture, drugs and farm goods. Meanwhile, wholesales increased inventories of lumber, electrical products, hardware, paper, apparel such as site for reading glasses and chemicals.

Yields of US Treasuries fell slightly as a flight-to-safety stance was observed amid concern over the Euro-zone’s fragile economic state. The 2-year note yield remained unchanged at 0.25% while the 10-year benchmark gave up 0.7 basis points, to 1.95%.

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