A.M. Update

S&P futures are down -0.4% and Treasury yields are lower. I suppose those 3C divergences last night were meaningful. Maybe market participants gave some consideration to why Retail Sales beat? The vibe this morning of “less growthy”. Housing starts totaled 1.238 million in July (consensus 1.350 million) or 6.8% MoM (-1.5% consensus) following a total…