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The Animal Spirits Index Is at the Highest Level of 2018 (before the October pullback anyway...)

davfordavfor
in The OT Bullpen
It has long appeared to me that Animal Spirits are one of the main drivers of the market's invisible hand. This index attempts to quantify this factor. Its interesting to note the variables that are included.
Our Animal Spirits Index (ASI) is constructed from five variables: (1) the S&P 500 index, (2) the Conference Board’s consumer confidence index, (3) the yield spread, (4) the VIX index and (5) the economic policy uncertainty index.
The September 2018 ASI has ticked up to 0.97, the highest level of 2018...the ASI has remained positive since July 2016...
https://www08.wellsfargomedia.com/assets/pdf/commercial/insights/economics/special-reports/asi-update-20181022.pdf
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