The Bloomberg Consumer Comfort Index surged in the week-ending Feb 9th (matching its biggest weekly jump in 9 years) to its highest since 2001... as the US equity market crashed...
As Bloomberg notes, consumers remain upbeat about the economy, their finances and the buying climate, representing a disconnect from volatility in the stock market that culminated in a 5.2 percent slump in the Dow Jones Industrial Average last week.
Comfort among married Americans reached its highest since January 2001, which at 64.8, is far higher than for singles.
Sentiment among political independents reached its strongest reading since February 2001.
Confidence among Republicans, while falling last week, remained higher than that of Democrats.
Comfort levels increased the most among Americans in the South and West.
Comments
Helps when you have a few more bucks in your paycheck. It's not rocket science
The (((stock market))) is not America.
In reply to Helps when you have a few… by koaj
Damn Americans
In reply to The (((stock market))) is… by Dindu Nuffins
The "Bloomberg Comfort Index" could be called the Bloomberg BS Index.
No way in hell Americans (outside the top 5 percent) are more comfortable than they've been at any time in the past 17 years.
In reply to Damn Americans by toady
They simply had the confidence that the fed would buy the dip..... and they werent disapointed.
Get your DOW 30k hats....
In reply to The (((stock market))) is… by Dindu Nuffins
Wait what crash? Stock market is actually up this year!
My first thought also...when did the market "crash" recently?
In reply to Wait what crash? by Iconoclast421
Indeed an attempt at controlling inflation with interest rate hikes which is useless. They can't prevent the inevitable inflation from the spending that has been going on by a out of control government for 10 years.
In reply to My first thought also...when… by Drater
Wait until the pension funds go short. That's when the comfort level will flip.
The crash hasn't arrived yet. Nobody knows the timing. But there will be indicators. This is the first warning sign of the year to not be complacent in the times ahead as an investor.
As a trader, its a different story...
This makes me rest easy, not!
UST 10YR currently at 2.92 (high of the day)
OMG THE WORLD IS COMING TO AN END...
In reply to UST 10YR currently at 2.92 … by Don Sunset
Haha, consumers are confident. Wtf do average consumers know? I'll tell you, the same as the square root of f$CK all. Consumers were confident right up until late 2007 too. But no one saw that coming right? Everything is a joke now.
Yeap....most consumers are laggards.
In reply to Haha, consumers are… by the 300000000t…
So where do you shop? The local dumpster?
In reply to Yeap....most consumers are… by Brazen Heist
what made up shit. the comfort level chart is amusing, though. sentiment and reality don't correlate well.
Really...well the parking lot across the street is full of shoppers as is the mall up the street...must be a mirage...
In reply to what made up shit. the… by besnook
get all commando on that shit.
..oh, wrong thread.