University of Michigan Sentiment: 57,7 Forecast: 63 Previous: 63,5
University of Michigan Expectations: 53,4 Forecast: 60,8 Previous: 60,2
University of Michigan Conditions: 64,5 Forecast: 67,5 Previous: 68,2
Inflation expectations 1-yr: 4,5% Forecast: 4,4% Previous: 4,6%
Inflation expectations 5-yr: 3,2% Forecast: 2,9% Previous: 3,0%
Long-term inflation expectations came in highest since 2011. Higher than expected inflation and lower consumer sentiments suggest neggative conditions for the stock market. University of Michigan reading much below expectations suggest that 'recession fears' may be justified. At the same time higher inflation expectations support further, restrictive Fed policy.
Daily summary: Wall Street rebounds after the sell-off 🔼 US dollar strengthens on solid NFP data, oil prices fall
BREAKING: US NFP much stronger than expected 📈 US Dollar and treasuries yields surge
EURUSD loses ground ahead of NFP
BREAKING: BoE raises interest rates by 25pbs to 4%⏰