Armed with strong economic data and with consumer sentiment at a high and the Federal Reserve primed for interest rate hikes through the rest of 2018. The Fed has already raised rates twice this year and the prevailing sentiment in the capital markets is that two more will take place–one slated for tomorrow when the Fed is scheduled to make the third rate decision for the year.
Additionally, with the holiday season looming, the consumer confidence levels should be welcome news for retailers.
“These historically high confidence levels should continue to support healthy consumer spending, and should be welcome news for retailers as they begin gearing up for the holiday season,” said Franco, the Conference Board’s director of economic indicators.
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