November 08, 2024 15:10 GMT
US DATA: Consumer Sentiment Firmed Ahead Of US Election
US DATA
USGlobalEM BulletFixed Income BulletsData BulletBulletMarketsEmerging Market NewsForeign Exchange BulletsRegionNorth America
- U.Mich consumer sentiment improved by more than expected in the preliminary November report at 73.0 (cons 71.0) after 70.5, still highest since April.
- Inflation expectations were mixed, with the 1Y surprising a tenth lower at 2.6% for a fresh low since Dec 2020 and the 5-10Y surprising a tenth higher at 3.1% but remaining within its 2.9-3.1% typical range.
- Note that the preliminary release for the 5-10Y has previously printed 3.1% three times in the year to Oct but was revised down to 3.0% on two of those occasions.
- There is a big caveat that the survey period ran up to Nov 4 and will have missed the presidential election results. Consumer sentiment showed markedly differing levels by political party, with democrats at 94.9 vs republicans 57.9 ahead of the election.
131 words