University of Michigan shopper sentiment remaining numbers to be launched at 10 AM ET

Recall a week or so ago the preliminary Michigan sentiment data showed a surprise decline with higher inflation:

• Consumer sentiment 67.4 versus 77.2 last month
• Expectations 66.5 versus 76.0 last month
• Current conditions 68.8 versus 79.0 last month

For the inflation readings:

• 1 year inflation expectations 3.5% versus 3.2% last month
• 5-year inflation expectation 3.1% versus 3.0% last month.

Overall the data was startling. However, it can be largely influenced by things like gasoline prices.

The current 2-year yield is at 4.948% while the 10 year yield is at 4.486% ahead of the data.