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Advisor Sentiment Turns Positive
Advisor confidence in the economy and the stock market improved in May, to a reading of 100.48—up nearly seven points from 93.59 in April, according to the Rydex/SGI AdvisorBenchmarking Index. May’s reading is the highest level reached since October 2007.
Stronger advisor confidence stemmed from increased consumer optimism and recent signs of economic revival, according to Rydex. The Conference Board Consumer Confidence Index also improved considerably, and was 39.2 in April, up from 26 in March.
What does this all mean? Sure, advisor and consumer confidence is a positive element of a market surge. However, advisor confidence is now at a level not seen since October, 2007 – right when the recent market collapse began…