TRA Macro Tracking Index

Consumer confidence came in very low today, which is no surprise given the run up in gas prices. But, yields are modestly down from their highs earlier in the week. Thing is, the oil issues in Iran are not exactly the only reason causing bond yields to move up, so it's hard to believe they will be coming down meaningfully. That being said, a new Fed Chair is being sworn in today and other governors are now signaling the possibility of a hike coming.

Have a great holiday weekend and see you all next week!