US consumer confidence is flashing red:

The US Consumer Confidence index dropped -3.8 points in December, to 89.1, the lowest since April.

This marks the 5th consecutive monthly decline.

Excluding April, the index is now at the lowest level since January 2021.

The Present Situation index fell -9.6 points, to 116.8, the lowest since February 2021.

The Expectations Index remained unchanged at 70.7 points, the lowest since June.

The Expectations Index has now held below 80 for 11 consecutive months, a level that has historically signaled a recession ahead.

Asset owners are the only winners.

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