US DATA REACT: HFE says lower U-Mich sentiment was “a splash of
cold water after the upbeat retail sales numbers. We hoped the sharp
rebound in stock prices would reverse February’s dip in the key
expectations index, but instead it slipped marginally, to 67.2 from
68.4. If sustained at this level, the index would be consistent with
real consumption growing at about 1-1/2%.”