US consumption spending accounts for over two-thirds of the country’s gross domestic product. A favorable trend in consumer spending on non-durable goods is a positive indicator for the non-alcoholic beverage industry.
According to the Bloomberg Consumer Comfort Index, perceptions of the economy are highly negative, at 29% positive versus 71% negative.
The Thomson Reuters/University of Michigan Consumer Confidence Index is an important indicator of the consumer’s perception of the US economy.
Consumer spending indirectly drives mall REITs. More spending drives more stores and lowers vacancy rates.
The “Empire State Manufacturing Survey” is put out by the New York Fed. The report shows that the economy is kicking into second gear. Firms are generally optimistic about the future.
Industrial production and capacity utilization are numbers that get a lot of attention from the Fed. These figures not only help forecast economic activity but also impact inflation.
The US Department of the Treasury increased the weekly auction amounts for four-week, or one-month, T-bills last week. The issuance was $40 billion.
The auction demand for 13-week Treasury bills (or T-bills) was almost unchanged from the previous week. The bid-to-cover ratio came in at 4.7x.
Despite unchanged issuance, demand for 52-week T-bills was weak. The bid-to-cover ratio fell 7% to 3.6x month-over-month—the lowest level recorded since December 2009.
Treasury yields are closely related to economic data. Bullish economic data tends to raise yields. This lowers bond prices and vice versa.