Consumer Sentiment Rises To Highest Since January

[Purveyor]

Source: CBS

WASHINGTON - Consumer sentiment in June advanced to the highest level since January, suggesting that Americans will be spending more as the year progresses.

The University of Michigan says its consumer sentiment index rose to 96.1 this month from 90.7 in May. The June reading was the highest since January's 98.1.

"Consumer confidence is nice to look at but I don't think it tells us anything about the economic future as it's a coincident indicator instead," emailed Peter Boockvar, chief market strategist at the Lindsey Group.

"The bond market is not waiting around for the Fed to tighten policy," Boockvar added of rising yields.

Read more: http://www.cbsnews.com/news/consumer-sentiment-rises-to-highest-since-january/