Consumer confidence just had a nice surprise this morning.
Conference Board index jumped from 84.2 to 91.7 in October — way above what people expected. At the same time, inflation expectations dropped from 5.1% to 4.7%.
Toss in better-than-expected durable goods and housing data, and you've got a clean upside sweep across the board today.
This is the kind of data that keeps the "soft landing" narrative alive. People feeling better about their finances, inflation fears cooling off, and spending holding up.
Not saying we're out of the woods, but days like this remind you that the economy doesn't always cooperate with the doom-and-gloom crowd.
Watch how markets digest this. If confidence keeps climbing while inflation expectations keep falling, that's about as good a combo as you can ask for.
Conference Board index jumped from 84.2 to 91.7 in October — way above what people expected. At the same time, inflation expectations dropped from 5.1% to 4.7%.
Toss in better-than-expected durable goods and housing data, and you've got a clean upside sweep across the board today.
This is the kind of data that keeps the "soft landing" narrative alive. People feeling better about their finances, inflation fears cooling off, and spending holding up.
Not saying we're out of the woods, but days like this remind you that the economy doesn't always cooperate with the doom-and-gloom crowd.
Watch how markets digest this. If confidence keeps climbing while inflation expectations keep falling, that's about as good a combo as you can ask for.