Fundamentals 11/11: Consumer Sentiment

Today is one of those maybe holidays. Bond market and banks are closed. Stock markets are open.

University of Michigan Consumer Sentiment was 64.2 as preliminary reading for November. This was the highest since June, and the index max is 100. This is a survey that’s supposed to measure consumers’ predisposition to spend, but it’s more a short term reflection of mood. Predisposition to spend is driven by job stability and income.