U.S. consumer sentiment fell for a fourth straight month in November, and households' expectations for inflation rose again, with their medium-term outlook for price pressures shooting to the highest in more than a dozen years, a survey showed on Friday.
The University of Michigan's preliminary reading of its Consumer Sentiment Index dropped to 60.4, the lowest since May, from October's final reading of 63.8.
Consumers' outlook for inflation in the year ahead rose for a second month to a seven-month high of 4.4%. Over a five-year horizon, consumers expect inflation to average 3.2%, up from 3.0% in October and the highest since March 2011.
——
Seems bullish. Time for Fed to cut?
To get past auto-mod, this is a news article related to the stock market and bond market. Which are clearly intertwined with Federal Reserve policy and inflation.
I see this as further evidence of High for Longer Fed policy, which should be broadly bearish. In the meantime I’ll continue riding QQQ higher alongside my Google and PayPal and ASML.
Leave a Reply