Small Business Optimism Up. Chain Store Sales Down.
NFIB Small Business Optimism Index (April 2012)
– Level 94.5 up 2 points from last month and at the highest level of this year. This is a survey which asks businesses 10 questions: plans to increase employment, plans to make capital outlays, plans to increase inventories, expect economy to improve, expect real sales higher, current inventory, current job opening, expected credit conditions, now a good time to expand, and earnings trend.
ICSC-Goldman Store Sales (week ended 5/5/2012)
– Store Sales week/week -0.8%
– Store Sales year/year +3.3%
Redbook (week ended 5/5/2012)
– Store Sales year/year +2.6%. Previous was +2.9%.
Treasury prices are up (yields down) today on renewed angst about Greece. Add in the consequences of the French election and you have a recipe for heightened EU angst and flight-to-quality U.S. Treasury buying.