Conference Board Surveys Signals Surge In Consumer Confidence In October
After plunging by the most in three years in September, analysts expected a small rebound in The Conference Board’s consumer confidence in October. Instead of a small rebound, confidence exploded higher with the headline rising from 99.2 to 108.8 (vs 99.5 exp).
A measure of expectations for the next six months rose 6.3 points in October to 89.1 while a gauge of present conditions increased more than 14 points to 138…
Source: Bloomberg
This was the biggest MoM jump in Present Situation since May 2021…
Source: Bloomberg
In an odd mix – survey respondents expect higher inflation, higher bond yields, AND higher stocks…
Source: Bloomberg
At the same time, it appears The Fed’s rate-cut has sparked a renewed hope to purchase a car or a home (good luck given that mortgage rates and auto loan rates are actually higher since the 50bps cut)…
Source: Bloomberg
The Board’s labor market indicator showed the jobs situation improve considerably after an ugly few months…
Source: Bloomberg
Not exactly the kinds of ‘bad news’ that prompts more rate cuts anytime soon!?
Tyler Durden
Tue, 10/29/2024 – 10:13
ZeroHedge News
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