Dec U Michigan consumer sentiment 74.5 vs 82.4 exp
- Worst since August
- This is the preliminary reading for December
- Final November reading was 82.7
- Current conditions 89.9 vs 90.7 prior
- 12-month outlook 75 vs 97 prior
Huge miss on the outlook and it comes at a sensitive time around the holidays. Might be fiscal cliff related but who knows.
Risk assets don’t like it and Boehner will probably stomp out any lingering optimism at 1600 GMT.