Tuesday was a day with quite a bit of news. Some of that news was good. Into that “good” bucket I would put the rise in Consumer Confidence, which jumped to 56.0 from 40.9. As the chart below makes clear (click to enlarge), this doesn’t necessarily indicate that confidence is surging, because 56.0 is still egregiously low. Note especially that last November we also had a nice pop in Consumer Confidence, of about 8 points, which followed through for a couple of months before fading.
Confidence jumped, but remains pretty low. However....
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