United States Treasury yields ticked higher across the board in conjunction with the Conference Board’s Consumer Confidence Index, which registered its highest reading since October 2000. The feel-good vibes of the S&P 500 becoming the longest bull market recorded and the Nasdaq Composite breaking the 8,000-point barrier appear to be evident with respect to the index.
The benchmark 10-year yield went up to 2.882 while the 30-year yield climbed to 3.033. Short-term yields also edged higher with the 2-year going to 2.665 and the 5-year to 2.772.
The consumer confidence data also corroborates with CNN’s Fear & Greed Index, which is tilting to the right, indicating that emotions are positive regarding the capital markets.
“Expectations, which had declined in June and July, bounced back in August and continue to suggest solid economic growth for the remainder of 2018,” said Lynn Franco, director of economic indicators at the Conference Board. “These historically high confidence levels should continue to support health consumer spending in the near term.”
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