Following June’s bounce, preliminary July data from UMich’s Sentiment survey was expected to continue rebounding… and it did.
The headline sentiment index rose from 60.7 to 61.8 (above the 61.5 exp) with a big bounce in Current Conditions (from 64.8 to 66.8) and a small rise in future expectations from 58.1 to 58.6. All better than expected and all at their highest level since February…
Source: Bloomberg
The spread between Republican and Democrat sentiment is back at record wides…
Source: Bloomberg
Most notably, inflation expectations tumbled from 5.0% to 4.4% (1Y) and from 4.0% to 3.6% (5-10Y)…
Source: Bloomberg
With Democrats and Independents finally realizing that their insane expectations for inflation were just that…
Source: Bloomberg
And the same picture emerges on the longer-term expectations.
Source: Bloomberg
Well, this puts more pressure back on Powell as ‘inflation expectations’ seem like they are back under control.
Loading…
