Oct prelim U Mich consumer sentiment 99.0 vs 100.5 expected
Consumer sentiment data from the University of Michigan
- Current conditions 114.4 vs 115.2 prior
- Expectations 89.1 vs 90.5
- 1-year inflation 2.8% vs 2.7% prior
- 5-10-year inflation 2.3% vs 2.5%
With the mode the market is in right now, a small miss is probably a good thing because it lowers the risk of something that will push up Treasury yields. The US dollar has had no reaction to the report.
"It should be noted that the sharp selloff in equities overlapped interviewing by only one evening, having virtually no influence on the early October data," the survey said.