(Bloomberg) — Stocks climbed and bonds tumbled as data on retail spending and the labor market underscored the strength of the world’s largest economy, allaying fears the Federal Reserve would be risking a deeper slowdown.
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As economic jitters abated, the S&P 500 extended a six-day rally to 6.6% — the best performance in such a span since November 2022. Walmart Inc. — a barometer of growth — jumped on a solid outlook. Treasury yields surged, with the move led by shorter maturities. Data showed retail sales beat estimates while jobless claims hit the lowest since early July. Swap traders further reduced bets on aggressive Fed easing.
“We’re back to an environment where good news is good news and bad news is bad news,” said Bret Kenwell at eToro. “Investors and consumers want inflation to go lower — but not at the expense of the economy. Today’s stronger-than-expected retail sales figure…
