A.M. Update

S&P futures are down -0.6%, troubled by Powell’s comments and  higher rates. The 10-yr yield is up three basis points to 4.45% and the 2-yr yield is up five basis points to 4.34%. Retail sales increased 0.4% in October (consensus 0.3%) following a revised 0.8% increase in September (from 0.4%). Retail sales, excluding autos, rose…