Did Someone Just Break The Consumer Confidence Embargo?
According to crossing headlines, US Consumer Confidence per the Conference Board, which was expected to print at 10:00am, has come out at 58.5, on expectations of 61.0 and down from 61.7. It is unclear if this is due to an embargo breach, but this is the number for what its worth. Not even the HFT algos could front run a fully leaked number. The index components were worse on both counts: present situation was down from 39.3 to 37.6, while expectations dropped from 76.7 to 72.4. Naturally, this number only has an impact on the market when it show improvement so the embargo break will likely be promptly forgotten. Visually, the Hopium is now empty: the expectations index is now back to October 2010 levels... And levels first seen in Q2 2009.
General Collateral at 1 basis point is only adding to the fun.... THE FUN
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