U.S. Economic News
October 30, 2018
U.S. Economic Indicators
The Conference Board’s Consumer Confidence Index rose from 135.3 (revised) in September to 137.9 in October. The increase was driven by improvements in both the Expectations Index and the Present Situation Index. Conference Board Report
U.S. News
The Wall Street Journal reports that the U.S. Treasury expects to issue over $1 trillion in debt this year as higher spending and weaker tax revenues widen the deficit. The Treasury said that total debt issuance would be about $1.3 trillion in calendar year 2018, up from $546 billion in 2017 and the highest mark since 2010. WSJ
Amrith Ramkumar of the Wall Street Journal writes that hedge funds have scaled back their bets on bullish oil prices to the lowest point in a year. While much of 2018 saw robust demand and shrinking supply propel prices higher, investors now expect demand to slow and output to rise from key producers such as Saudi Arabia, which has weighed on oil prices. WSJ