Consumer confidence plunges to lowest level ever
The present situations index dropped to 21.2 from 29.7, while the index that measures expectations about the future fell to 27.5 from 42.5. Readings on employment deteriorated substantially, with many more respondents characterizing jobs as "hard to get." Buying plans for automobiles and housing both declined, though the percentage of Americans who said they plan to buy appliances ticked up.
Long bond futures are at their day's high in the wake of this news (+1 5/32 to 129 2/32). Ten-year note yields are down about 4 bps to 2.72%.