The US economic data on the day was a little better than expected and supported markets yesterday. Advance retail sales rebounded by 0.6% MoM in May and are now up 1.6% year to date. Sales ex autos gained 0.3% MoM. Spending is growing modestly through H1 2013. Meanwhile initial jobless claims dropped to 334k in the first full week in June, the underlying trend remains one of gradual improvement.
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