US November wholesale sales +1.3% vs +1.2% expected

• Prior was +2.2% (revised to +2.5%)
• Inventories +1.4% vs +1.2% exp
• stock-sale ratio 1.22 months vs 1.22 prior

There's no surprise here and this isn't a market mover. I expect inventory building to be a major theme in 2022 and 2023.