Consumer Confidence Index (Conference Board)
September's Consumer Confidence Index (CCI) will start this week’s calendar at 10:00 AM ET tomorrow. This Conference Board index gives us a measurement of consumer willingness to spend. It is expected to show a rise in confidence from August's reading, indicating that consumers were more optimistic about their own financial situations than last month. This means they are more likely to make a large purchase in the near future. Because consumer spending makes up almost 70% of the U.S. economy, good news for rates would be a decline. Analysts are calling for a reading of approximately 88.5, up from August's 84.8. The smaller the reading, the better the news for the bond market and mortgage rates.