The University of Michigan's final consumer sentiment results for May show:
- Consumer sentiment 69.1 vs. 67.5 estimates and 67.4 preliminary. Last month 77.2.
- Expectations: 68.8 vs. initial 66.5. Last month 76.0
- Current conditions: 69.5 vs. initial 68.8. Last month 79.0.
- One-year inflation forecast is 3.3% versus 3.5% initial. It is still the highest level since December, but represents a relief from the initial reading of 3.5%. Last month it was 3.2%.
- 5-year inflation forecast is 3.0% versus 3.1% initial.
US bond yields fell slightly after inflation expectations fell. US stocks rose with the Nasdaq now up 84 points or 0.50%. The S&P rose 21.07 points, or 0.40%.
- US two-year yield 4.943%, +1.1 basis points
- The US 10-year bond yield is 4.482%, +0.8 basis points
This article was written by Greg Michalowski at www.forexlive.com.