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U.Mich 5-10Y Inflation Expectations Revise Away July's Preliminary Increase

US DATA
  • U.Mich consumer sentiment revised 1pt lower to 72.6 in the final July reading.
  • 1Y expectations: 3.4% (prelim 3.4%) in July after 3.3% June
  • 5-10Y expectations: 3.0% (prelim 3.1%) in July after 3.0% June. The downward revision from the preliminary print means it last hit 3.1% in May and before that in Jun’22.
  • Remember long-term expectations have been in the 2.9-3.1% range for all but one month (when it surprised lower) since Aug’21. A tick higher to 3.2% would mark the highest since Mar'11.

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