Consumer Confidence Index (Conference Board)
March's Consumer Confidence Index (CCI) will also be posted tomorrow morning. The New York-based Conference Board will release this index at 10:00 AM ET. It gives us an indication of consumers' willingness to spend. Bond traders watch this data closely because consumer spending makes up over two-thirds of our economy. If this report shows that consumer confidence in their own financial situation is falling, it would indicate that consumers are less apt to make a large purchase in the near future. If it reveals that confidence looks to be growing, we may see bond traders sell as economic growth may rise, pushing mortgage rates higher Tuesday morning. It is expected to show a reading of 132.0 up from February's 131.4 reading. The lower the reading, the better the news it is for bonds and mortgage rates.