Outlier Consumer Confidence Read Rattles Rates Rally

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Posted To: MBS Commentary

Rattle: to upset especially to the point of loss of poise and composure. Disturb. While we can certainly say the bond market lost composure after 10am Consumer Confidence data, it's not an outright defeat. Technical support has come to the rescue. Here is the Reuters Quick Recap... RTRS-US JANUARY CONSUMER CONFIDENCE INDEX 60.6 VS DEC REVISED 53.3 (PREVIOUS 52.5) - CONFERENCE BOARD RTRS-US CONSUMER CONFIDENCE INDEX MEDIAN FORECAST FROM REUTERS FOR JANUARY WAS 54.3 RTRS-US CONSUMER PRESENT SITUATION INDEX IN JAN WAS 31.0 VS DEC REVISED 24.9 (PREVIOUS 23.5) RTRS-US CONSUMER EXPECTATIONS INDEX 80.3 IN JAN VS DEC REVISED 72.3 (PREVIOUS 73.6) - CONFERENCE BOARD RTRS-US JOBS HARD-TO-GET INDEX 43.4 IN JAN VS DEC REVISED 46.0 (PREVIOUS 46.8) - CONFERENCE BOARD RTRS-US 1-YEAR CONSUMER INFLATION RATE...(read more)

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