Bank of America sees elevated spending so far
Bank of America is out with a holiday says tracking chart that shows a 16% y/y increase. This is likely to show up in a very strong October US retail sales report, likely spilling into November as well.
The question is whether this is a sign of an extremely strong consumer or of shoppers buying earlier because of fear of bottlenecks and shortages?
We won't really know until January when we get the final tally on December retail sales.
For now, the trade may be to buy the US dollar just ahead of the October retail sales report. That's due Nov 16.
