Consumer Confidence nears 18 year High while the Cost of Borrowing Rises
After US GDP ripped higher to a clip over 4%, US consumer confidence is nearing an 18 year high. With wage growth appearing in the economy, job creation, robust hiring, low employment, and tax plan incentives, consumers surveyed are showing optimism. Sources https://www.conference-board.org/data/consumerconfidence.cfm and market watch.com
Having worked in logistics out of college, I know a good indicator of true economic activity is truck tonnage, in other words how much freight are US trucks actually moving. Here is the chart.
10 yield Treasury yields have climbed back to 2.95. Inflation is remaining tame and now the big question, will the FED continue to raise…