US consumer confidence collapsed in late 2007 as the US housing bubble burst and the US economy went into recession. Only in 2016, eight years later, did it claw its way back to neutral. Since then, US household confidence has trended higher and higher.
The latest Conference Board survey indicates US consumers remain very optimistic. The reading came in at 135.7, down from October’s reading of 137.9 but still well up on September 2017’s comparable figure of 129.5. It is still among the highest readings produced since the survey began in the 1960s.
US bond yields finished the day a touch higher. 2-year, 10-year and 30-year Treasury bond yields all added 1bp to 2.84%, 3.06% and 3.32% respectively.