US consumer sentiment data

  • Prior was 80.7
  • Current conditions 87.7 vs 79.5 expected (90.0 prior)
  • Expectations 73.8 vs 74.0 expected (76.4 prior)
  • One year inflation expectations +3.0% vs +2.5% expected
  • 5-10 year inflation expectations +2.7% vs 2.5% prior

That's a big jump in inflation expectations but it's not out-of-line with numbers earlier this year.

I don't think the Fed would worry about that until it got over 4%.