US retail sales point to Fed hike in Sep - Nomura

Analysts at Nomura explaind that the US retail sales report, overall, on the consumer was a mixed bag of goodies.

Key Quotes:

"However, on balance, it suggests that domestic demand remained on a steady track in May following an outsized increase in April.

In our view, it doesn't increase the probability of a June rate hike, and we’ll likely need to see stronger data sustained over several weeks to keep a July interest rate increase as a viable option.

Currently, we think that the most likely timing of the next rate increase is in September."