UMich Sentiment Slumps In March As ‘Hope’ Plunges, Inflation Expectations Surge

Following February’s plunge to new post-COVID lows, March’s preliminary University of Michigan sentiment data was expected to fall even further, plumbing new lows not seen since 2011. However, things were much worse than expected with the headline sentiment print dropping from 62.8 to 59.7 (well below 61.0 exp) as expectations plunged (from 59.4 to 54.4) and current conditions slipped from 68.2 to 67.8…

Source: Bloomberg

Sentiment tumbled across all political groups with Democrats worst…

Source: Bloomberg

And finally, and perhaps most importantly, inflation expectations soared with the highest 1-year inflation expectations since Dec 1981…

Source: Bloomberg

And we all know who is to blame for that right! That evil man who last name starts with a ‘P’… (take your pick)

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