US DATA: Mar Conference Bd consumer confidence 63.4 vs 72.0r Feb,
showing the expected drop that catches this series up to other lower
confidence measures. Present situation 36.9 vs 33.8, but Expectations
plunge to 81.1 vs 97.5. Buying plans fell, inflation expectations jumped
(6.7% 1y infl expected vs 5.6% in Feb), and expectations for lower stock
prices surged. This is the mainly “oil effect” as gasoline prices rose.
Jobs Plentiful 4.4 vs 4.9, and Jobs Hard to Get 44.6 vs 44.4; this put
the difference at -40.2 vs -39.5 in Feb, only a slight erosion.