BREAKING: US UoM Consumers Sentiments Prelim slightly higher than expected🗽

University of Michigan US Consumers Sentiment Prelim: 69 (Forecast 68.5, Previous 67.9)

• University of Michigan Expectations Prelim: 73 (Forecast 72.2, Previous 72.1)
• University of Michigan Condition Prelim: 62.9 (Forecast 61.6, Previous 61.3)

University of Michigan 1 Yr Inflation Prelim: 2.7% (Forecast 2.8%, Previous 2.8%)

• University of Michigan 5 Yr Inflation Prelim: 3.1% (Forecast 3%, Previous 3.0%)

Overall, today prelim UoM data points to still strong US consumers, while inflation expectations dropped below estimates - it's quite bullish mix for US stocks. Long-term inflation expectations unexpectedly rise above 3%, which may be a signal, that Fed may have a problem with sustainable achieving 2% inflation target in a long term. However, a scale of surprise in this measure is very low and does not indicate any serious problem for the Federal Reserve. The most important factor is stronger than expected results in every measure of sentiments; both current conditions and expectations.