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NY Fed Inflation Expectations Rise As Market Measures Slide

US
  • Consumer inflation expectations 3-yrs out rose 0.2pts to 3.9% in the NY Fed’s April survey but remain below recent highs of 4.2% from Sep/Oct-2021.
  • The latest uptick goes against the stabilisation seen in the U.Mich 5-10Y measure at 3.0% of late, with the May preliminary update due on Fri.
  • It also comes as 5Y inflation breakevens have slid notably today, down 10bps at 3.13% to the lowest since Feb and a 30bp reduction since the beginning of April.

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