Strong Consumer Confidence Lifted Risk Appetite

Wall Street and Treasury yields rebounded, hinging on the sharp rise in US consumer sentiment. While confidence/sentiment indices have been considered as soft data, vs hard data such as GDP growth and employment, the strong reading nonetheless reflects consumers’ expectations on tax reform and growth. Wall Street gained with both DJIA and S&P 500 indices adding +0.73% for the day.

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Strong Consumer Confidence Lifted Risk Appetite