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Eyes on inflation expectations with UMich sentiment data coming up

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Data due at the top of the hour

The University of Michigan’s consumer sentiment survey is due at the top of the hour along with US business inventories.

Sentiment is forecast to rise to 90.0 from 88.3 but the headline that might matter must is inflation expectations. A number of Fed officials this week have pointed to expectations and vice-chair Clarida singled out survey-based measures as critical. Given all the inflation talk recently, there might be considerable upside risk to the 3.5% 1-year consensus estimate.

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