What is the outlook for US retailers from a bond perspective?

The US retail sector is struggling. This may seem strange, given the US economy is strengthening and consumer confidence is rising.

But this is more than offset by a shift in consumer spending away from clothes and towards experiences, a fall in the number of tourists, unseasonal weather and intense competition from pure e-commerce players like Amazon.  M&G's Leaviss: Will Yellen commit to a second term? Operational performance of the main, speciality retailers and department stores has weakened with most reporting worsening like-for-like store sales, and increasing competition has forced prices - and hence operating margins - down. Some have responded by closing bricks-and-mortar stores in an attempt to adapt ...