Affluent households are more confident about investments than they have been in nearly two years, according to the Spectrem Affluent Investor Confidence Index.
The index rose 5 points in November to -10, reaching neutral territory for the first time in nearly two years.
The rise in the affluent index, which measures the investment confidence and outlook of households with $500,000 or more in investable assets, follows a 2-point decline in October 2009. It brings the index to its highest level since February 2008, when it also reached -10 and was last in neutral territory.
Meanwhile, the Spectrem Millionaire Investor Confidence Index advanced 3 points in November to -4, its fourth-straight neutral reading.
"Nevertheless, given recent economic data that have not been overwhelmingly positive, it appears the affluent in particular are approaching the future with some level of continued caution," says Spectrem President George H. Walper Jr.