Jason Goepfert

4-28-2020 at 9:31 pm

Daily Report : Leverage declines as margin debt plunges again; Coronavirus craters consumers' confidence

Investors pulled back on leverage in March, with margin debt declining more than 10% that month alone, one of the biggest declines for a single month in decades. Debt is now down more than 25% from its peak, which is large but not to the level of the most severe declines.; Consumer Confidence plunged in April, with the 2nd-largest one-month decline in more than 50 years. Big drops in confidence have not been a positive sign for stocks, but this one has been so large that it's on a level with some major market bottoms.

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