Prior was 97.4 (revised to 97.8)Worst since April
Details:
Present situation 125.4 vs131.2 priorExpectations 73.4 vs 74.8 priorJobs hard-to-get 19.1 vs 19.1 prior
“Consumer confidence weakened in September, declining to the lowest level since April 2025,” said Stephanie Guichard, Senior Economist, Global Indicators at The Conference Board.
“The present situation component registered its largest drop in a year.
Consumers’ assessment of business conditions was much less positive
than in recent months, while their appraisal of current job availability
fell for the ninth straight month to reach a new multiyear low. This is
consistent with the decline in job openings. Expectations also weakened
in September, but to a lesser extent. Consumers were a bit more
pessimistic about future job availability and future business conditions
but optimism about future income increased, mitigating the overall
decline in the Expectations Index.”
This is the kind of thing that should have the leaning more towards a cut but the JOLTS numbers were slightly better and that has outweighed consumer sentiment, resulting in a mildly hawkish repricing in bonds, though in FX we’re seeing some light USD selling.