Consumer Confidence Misses

Consumer Confidence

Released On 10/29/2013 10:00:00 AM For Oct, 2013 Prior Consensus Consensus Range Actual Consumer Confidence - Level 79.7  75.0  70.0  to 79.0  71.2  This collapse from 79.7 is the largest drop on a month to month basis in just about 2 years and follows the worst miss ever in September for the U of M CC print. You may recall a chart I posted just a few days ago showing a huge drop in retail investors with an income of $99K and higher, in September the fled the market like rats off a sinking ship, combined with the finding that 88% of Americans have no investments at all in the market which is a FAR cry from the glory days of the 401k and MATCH?ING CONTRIBUTIONS, remember those?  Besides the massive drop and the significant miss, it's also the lowest print in 5 or 6 months. The initial print sent the $USD knee-jerking higher and then taking a little dive, gold popped a little, the market in general seemed to like the bad news is good news and TLT which gapped down on the pullback I've been expecting saw a little boost, but overall the effect seems to be muted.