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Equities, Bond Futures Spike on UMich Inflation Revisions

  • Notable downgrade to inflation expectations across both the 1-year and 5-10year inflation expectations prompting a spike higher in both equity markets as well as Treasury futures.
  • This Michigan survey carries extra weight - this was the specific survey that Fed's Powell mentioned in the press conference following the Fed's 75bps rate hike two weeks ago.
  • Greenback sustaining losses on the move, with EUR/USD rallying to touch fresh highs at 1.0570.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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