Consumer sentiment highest in four years
Posted May 25, 2012
Europe? What Europe? US Consumers seem not to care about activities across the pond as we received a very strong University of Michigan’s Consumer Sentiment report for the month of May which gave us a reading of 79.3 and is the Index’s highest figure since October 2007. It’s great to see a bullish consumer, although the question has to be asked… for how long will this optimistic rise continue if economic pressures from global players persist in the coming months?
Treasuries – still focused primarily on Europe, essentially ignored the much better than expected data, dropping to a yield of 1.74% by mid-morning. The bond market closes early today at 2pm for the Memorial Day Weekend. Markets will reopen on Tuesday. Enjoy the holiday weekend!