Treasury auctions have had a slight impact on US Equities (^GSPC, ^DJI, ^IXIC), according to data from Citi Global Markets. With the Conference Board Consumer Confidence Index rising for the month of May, Invesco Global Market Strategist Brian Levitt joins Catalysts to discuss Treasury auctions, consumer confidence, and the broader state of the market.
"This is a market that has been very focused on inflation, very focused on what the Federal Reserve is going to do, at least over short-term periods. So when you get a miss on inflation, meaning higher than expected, the markets start dealing with policy uncertainty. Again, you get some volatility and you get some drawdown. So if we’re talking about the next five days, personal consumption expenditure should be front and center on investors’ minds," Levitt tells Yahoo Finance.
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