The final October University of Michigan consumer sentiment index came in at 48.0, above the 46.3 expected but below September's 48.1, while 1-year inflation expectations rose to 4.7% and 5-year expectations rose to 3.5%.
Consumer sentiment stayed near depressed levels while both short- and long-term inflation expectations ticked higher, a combination that complicates the case for easier policy. Rising inflation expectations alongside a beat versus consensus could support US yields and the dollar if it reduces pressure for faster Fed easing, though the sequential decline from September tempers that read.
Bloomberg·10/19, 07:55 PM
High impactLiveSquawk·10/23, 08:45 PM