Retail sales data were the big story of the day, Aaron Task, co-executive editor of TheStreet.com, told "RealMoney" radio show listeners Thursday. Task is filling in for Jim Cramer this week. Based on preliminary numbers from 57 retailers, 53% missed expectations for their February numbers, Task cited Thompson Financial as saying. The sales tally was up 2.9%, in line with forecasts, but Task reminded listeners that Wal-Mart ( WMT) accounts for half of the retail index. The megastore had a solid February, as did a handful of other big-box stores. But Task said that the big story as far as Wall Street is concerned was the disappointing results from specialty and teen retailers, including Abercrombie & Fitch ( ANF), Aeropostale ( ARO) and Gap ( GPS). He said that the Treasury market was the other big story, as the benchmark 10-year note slumped and pushed the yield to 4.65%, its highest level since June 2004. He said that the selloff continued Thursday on weekly jobless claims data, which showed that claims came in below 300,000 for the seventh week in a row. Task said that 300,000 is the level that economists think of as key when measuring expansion and contraction in the labor market. If the economy is close to full employment, or the lowest unemployment level we can have before wage inflation kicks in, that could lead to more Federal Reserve money tightening down the road, he said. Treasury prices and yields move in opposite directions, so if prices continue to fall and yields move higher, that will affect anyone buying a home, applying for a loan or refinancing, Task said. That is because mortgage and loan rates track the rise and fall of the 10-year Treasury note. There is also a direct correlation between Treasury movements, Fed rate hikes and the stock market, he said.