US consumer sentiment

  • Preliminary reading was 97.8
  • Prior reading was 101.4
  • Current conditions 114.9 vs 106.2 prelim (115.0 prior)
  • Expectations 88.4 vs 86.8 prior
  • 1-year inflation expectations 2.7% vs 2.7% prior
  • 5-10 year inflation 2.5% vs 2.4% prior

Good reading, the drop in current conditions in the preliminary data was overdone. The US consumer remains solid.