University of Michgan Consumer Confidence soared to 8 month highs, beating expectations by the most since November led by a surge in “outlook” hope. Current conditions are back at December 2013 highs but it is the outlook that is providing the juice for this exuberant headline print. Bear in mind this is the preliminary print of this data and is due for revision in the next 2 weeks or so… which as ‘consumers’ see the red flashing tickers on their iPhones will be slightly less exuberant.
Yay…
We suspect this will be revised lower…
Charts: Bloomberg
via Zero Hedge http://ift.tt/1kBgfAy Tyler Durden