Consumer Confidence Index (Conference Board)
September's Consumer Confidence Index (CCI) starts this week’s calendar at 10:00 AM ET tomorrow. This Conference Board index will be posted at 10:00 AM ET and gives us a measurement of consumer willingness to spend. It is expected to show a decline in confidence from last month's reading, indicating that consumers were less optimistic about their own financial situations than last month. This means they are less likely to make a large purchase in the near future. That is favorable news for the bond market and mortgage rates because consumer spending fuels economic growth. Analysts are calling for a reading of approximately 134.0, down from August's 135.1 reading. The smaller the reading, the better the news for the bond market and mortgage rates.