Despite a weaker than expected November US Retail Sales report, stocks are improved and bonds worse this morning.  Retails Sales grew .2% in Nov vs expectations for .6% growth. Excluding the more volatile automotive segment, Retail Sales ex-Auto also grew .2% vs expectations for .5% growth.  Bond markets appear to be responding to speculation that the Federal Reserve will today alter their pledge to keep interest rates at near 0% through mid-2013.  Stocks appear to be responding to a better than expected German investor sentiment report and stronger than expected demand for a Spanish government bond auction.  The Spanish government sold 4.94 billion euros in 12-month and 18-month notes which, according to Bloomberg, was more than the 4.25 billion euros they had planned to sell.