US Treasuries underperform following in the release of strong(er than expected) September US retail sales. The topline number rose by 0.7% M/M with the August reading being upwardly revised from 0.6% to 0.8%. The retail sales control group – proxy for consumption in GDP calculations and excluding food services, auto dealers, building materials stores and gasoline stations– surged by 0.6% M/M (vs 0.1% expected) and the August figure up at 0.2% from 0.1%.