The preliminary University of Michigan Sentiment index will be released at 10 AM ET. The index is more of a timely view of the economy from the consumer side.
- Sentiment expectations 59.5 vs 59.8 last month
- Current conditions 64.0 vs 65.3 last month
- Expectations 56.0 vs 56.2 last month
Included is inflation expectations 1 and 5 year hence
The 1 year expectations came in at 5.00% last month up from 4.60% the previous month.
The 5 year inflation expectations came in at 2.9% which was up from 2.7% the month prior.
With the US CPI in the rear view mirror, the focus on improvement in inflation is important for further momentum in the “inflation is almost dead” argument.