Recent data seems to suggest that Americans have so far been willing to spend , especially as inflation continues to fall. But some companies say customers appear to be cutting back. The implications could be significant, given that consumer spending accounts for about two-thirds of the U.S. economy.
" Stutland said consumers will need to pay off higher interest rate payments, and if the 10-year rate continues to take off, that's "trouble for the consumer." "Investible consumer discretionary stocks need to be big cap, U.S.-based, and an interest rate environment where rates are flat to slightly declining. This makes for a tight needle to win with this sector," he said.
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