From Friday
Last Friday the University of Michigan consumer sentiment marked a sharp spike higher in inflation expectations. Adam flagged it at the time and the worry that may start to cause the Fed.
This spike is matched the latest CPI data from the US and the break even inflation rates derived from 10Y Treasury Inflation Protected Securities (TIPS) having risen from 2% at the start of the year to 2.52% now.
This caused the drop in the consumer sentiment on Friday and it keep inflation fears at the front of investors minds. One story to mark in case you let this data point slip last Friday after the poor retails sales headline print (though the revision showed more of an equilibrium).
