Inflation outlook improves in University of Michigan survey
Let's get back to Rick Santelli on a busy day for data. Hey, Rick. Yes, Carl, indeed, there's some significant changes here from the mid month reads for our final June read on University of Michigan sentiment and the inflation reads within this report. 68.2 from 65.6, so a nice pop, but that is only the best number since last month when it was a bit higher. And if we look at 65.9 replacing 62.5 on current conditions, that's a nice pop as well. But still May is comping higher than that level. If we look at expectations, a bit of a different story here. Also a nice pop from 67.6 up to 69.6. That's the best read since April of last year. Now the inflation numbers, the one year inflation outlook. Well on the mid month read it was 3.3. It moves all the way down to 3.03 point 0. Now that is good news, but do remember in March we were at 2.9 and we started the year at 2.9. But it is still a nice improvement from the mid month read. And finally the five to 10 year inflation outlook. Mid month read was 3.1, it moves to 3.0. Which equals April of 3.02. Point 8 in March obviously was a lower read. We started out the year at 2.9. So very similar to some of the metrics in the PCE. We have seen some levels that are a bit lower, but there has been improvement, especially from a calendar sequential parameter. We do see that yields have come up off the lowest levels, but we're basically hovering unchanged in A10 and in two years considering the movement in the yield curve. We're currently at 467, but it closed last week at 473, down 6 basis points on the.