• Interest rates were mostly unchanged during the week with the 2-year Treasury note yield falling by one basis point to 3.76% while the 5-year Treasury note was flat finishing the week at 3.84%.
• Headline CPI matched expectations, holding steady at an annual 2.7% while core CPI accelerated from 2.8% to 3.1%.
• The consumer bounced back in July with retail sales advancing by a firm 0.5% and was driven by auto and online sales.
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