This morning's weekly ABC/Washington Post consumer confidence reading reverted to its negative "Trend" line. This correlates positively with the sharp downward movement in last week's US jobless claims. Both have an inverse correlation with rising US corporate and personal bankruptcies.
At -49, the ABC confidence readings look primed to test their all time lows. This week's negative move is more negative if you consider that this occurred in the face of dropping oil prices.
KM
At -49, the ABC confidence readings look primed to test their all time lows. This week's negative move is more negative if you consider that this occurred in the face of dropping oil prices.
KM
