Consumer Confidence Lower, Investor Confidence Higher

The Conference Board noted:

Consumers were somewhat more positive about current conditions, but slightly more pessimistic about the short-term outlook. Income expectations, which had improved last month, declined in June. If this trend continues, spending may be restrained in the short-term.

A mixed bag at best that is pretty much inline with other recent surveys.

On the investor side, State Street noted:

The appetite for global equities is strongest among European institutional investors, reflected in the fact that the European [Investor Confidence Index] is 2.5 points above the neutral level of 100. We can also see this in the sectoral decomposition of flows, which shows some rotation out of safe havens and into more risk-sensitive sectors. To some extent, the buying of US, UK and Asian equities by European institutions may say more about their euro-currency concerns than it does about high expected returns for those markets.

Nothing new here either, just more confirmation that Europe is still bleeding.

Paul Ausick