U of M sentiment index slips in August; still substantial improvement on 3 months ago

11 August 2023

 

Summary: University of Michigan consumer confidence index deteriorates slightly, in line with expectations; views of present conditions improve, future conditions deteriorate; substantial improvements relative to 3 months ago; Treasury yields rise, especially at short end; 2024 rate-cut expectations soften. US consumer confidence started 2020 at an elevated level but, after a few months, surveys began to reflect a growing unease with the global spread of COVID-19 and its reach into...

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