UMich sentiment
UMich sentiment
  • Prior was 57.9
  • Current conditions 56.5 vs 61.5 expected
  • Expectations 47.2 vs 50.8 expected
  • 1-year inflation 6.7% vs 4.9% prior
  • 5-year inflation 4.4% vs 3.9% prior -- highest since 1991

This is a flawed survey but it's a bad result and I don't see how it improves next month given all the tariff hikes along with rising long-end rates.

Interviews were conducted between March 25 and April 8. Notably, some of the Trump tariffs were reversed on April 9.

UMich 5 year inflation
UMich 5 year inflation
Source: Forex Live