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Thursday, March 28, 2024

UMich Sentiment Disappoints To End June As Republican Confidence Slumps

Courtesy of ZeroHedge View original post here.

June’s preliminary rebound in UMich sentiment was expected to have accelerated into month-end but analysts were wrong as the the final data all fell relative to the mid-month reads with ‘Current Conditions’ actually lower in June versus May (from 89.4 to 88.6).

Source: Bloomberg

Republican sentiment continues to slide as Democrats’ confidence rebounds from a dip in May…

Source: Bloomberg

Inflation expectations fell on MoM basis but the short-term (1Y) expectation actually increased from mid-month 4.0% to 4.2% final…

Source: Bloomberg

Buying Conditions remain extremely weak (where’s my stimmy?) but we did see a modest rebound (very modest) in large household durables…

Source: Bloomberg

And finally, putting that collapse in homebuying sentiment in context, it appears homebuilders are in a reality all of their own…

Source: Bloomberg

Or maybe those homebuyers are just not buying the dip enough in the latest Fed-sponsored meme-stock to  accumulate enough wealth to afford a down-payment?

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