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Mark Hulbert: Why soaring consumer confidence should worry investors

Far from the cause for celebration that an exuberant Wall Street assumes it to be, soaring consumer confidence is a source of concern.

And make no mistake; it is soaring. The Conference Board’ consumer confidence index jumped to 125.6 in March, from 116.1 in February. That is one of the biggest one-month jumps in the history of the index, and was far higher than the consensus expectation of 114.1 among economists surveyed by MarketWatch. March’s is the highest reading for the index in 16 years.

For 10% bond returns, look to munis

(4:48)

It’s time to take profits in high-yield corporate bonds and buy high-yield municipals, says Sierra Strategic Income Fund co-manager David Wright.

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