Updated on August 30, 2016 10:31:53 AM EDT
August’s Consumer Confidence Index (CCI) was today’s only relevant economic data, coming at 10:00 AM ET. The Conference Board announced a reading of 101.1 that was well above the 97.0 that was forecasted. This means surveyed consumers felt much better about their own financial and employment situations this month than many had thought. Because rising confidence usually translates into stronger levels of consumer spending, this was bad news for bonds and mortgage rates. Fortunately, this is a non-governmental report that is considered to be only moderately important to the markets.