US consumer confidence jumps after Trump´s surprise election win

Donald Trump´s surprise election victory buoyed consumer spirits Stateside, the results of one of the most widely-followed surveys revealed.

The University of Michigan´s consumer sentiment survey jumped from 87.2 at the end of October to 93.8 for November, according to the final data for the month.

Economists had anticipated a print of 91.6.

A gauge of how consumers´ evaluated current conditions rose from 103.2 in October to 107.3, while another linked to their expectations jumped from 76.8 to 85.2.

The post-election gain in the headline index was 8.2 points when compared to the pre-election reading, UofM said.

Improved sentiment was recorded among all income and age groups subgroups and across all regions of the country, with responses showing greater optimism on the part of consumers about both their personal finances as well as the outlook for the economy.

"Presidential honeymoons represent a period in which the promise of gains holds sway over actual economic conditions. Presidential honeymoons, however, can quickly end if they are unaccompanied by prospects that economic conditions will actually improve in the future.

"President-elect Trump appears to appreciate the importance of his first hundred days; the key issue is whether his economic policies will resonate with the nation's consumers. The data indicate that consumer spending will advance by 2.5% in 2017," said Richard Curtin, the survey´s chief economist.

As of 1512 GMT the yield on the benchmark 10-year US Treasury note was up by seven basis points to 2.38%, after having hit an intraday high of 2.40%.