US Consumer Confidence Drops in September as Housing Market Fluctuates

In September, US consumer confidence experienced an unexpected decline, dropping to 103.0 points, below the anticipated 105.5 points. This marks the second consecutive month of decreasing consumer confidence.

Furthermore, August saw a significant 8.7 percent decrease in new apartment sales, surpassing expectations. Notably, July’s new apartment sales figures were also revised, revealing an 8.0 percent increase from June. These fluctuations in the housing market contribute to economic uncertainty.

On the financial front, long-term government bond interest rates have gradually decreased after reaching recent highs. The 10-year government bond rate in the United States has eased to 4.513 percent, while Germany’s equivalent rate stands at 2.777 percent. Similarly, two-year government bond rates have declined, with the US at 5.127 percent and Germany at 3.201 percent.

Additionally, the euro has weakened in comparison to the US dollar, with 1.06 dollars equaling 17.15 euros. This translates to 157.61 yen or 0.87 pounds. Meanwhile, the dollar trades at 148.88 yen, and the pound is valued at 1.22 dollars. These currency fluctuations reflect ongoing dynamics in global financial markets.