'Hope' Sparks Bounce In UMich Sentiment, Fears Of Soaring Prices At 47 Year Highs

‘Hope’ Sparks Bounce In UMich Sentiment, Fears Of Soaring Prices At 47 Year Highs

Following May’s disappointing drop in sentiment, analysts were confident that UMich Sentiment is set to rebound in today’s preliminary June data and it did, handily beating expectations (86.4 vs 84.4 exp vs 82.9 prior). The jump was driven by a big jump in ‘hope’ (from 78.8 to 83.8) while current conditions rose less than expected…

Source: Bloomberg

Democrats’ confidence rebounded in these early June data, but Republicans’ hope fell further…

Source: Bloomberg

Perhaps the most watched aspect of the survey is inflation expectations, which notably moderated

Source: Bloomberg

Which quite frankly makes absolutely no sense given that spontaneous references to market prices for homes, vehicles, and household durables fell to their worst level since the all-time record in November 1974

These unfavorable perceptions of market prices reduced overall buying attitudes for vehicles and homes to their lowest point since 1982.

Finally, we come back to the record spread between homebuilder confidence and homebuyer confidence as The Fed’s interventions have priced more and more and more Americans out of the ‘Dream’ they were promised…

Source: Bloomberg

as Blackrock et al. buy up everything in sight.

Tyler Durden
Fri, 06/11/2021 – 10:09

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