Despite stock indices hitting record highs (apart from small caps and 50% of individual stocks down notably), The Conference Board's Consumer Confidence narrowed its divergence with UMich confidence and tumbled to 86.0 (missing expectations of 92.5). This is the biggest miss since Jan 2012. The gap between the confidence of rich and poor increased but the gap between economic confidence and consumer confidence narrowed.
Confidence missed by the most since Jan 2012...
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Narrowing its gap to UMich confidence...
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But the QE inspired confidence is beginning to catch down to the reality of the economic confidence
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Charts:Bloomberg
