Consumers expect inflation to continue slowing

Consumers expect inflation to continue slowing

Sept. 18:

The preliminary University of Michigan Consumer Sentiment Survey index fell to 67.7 in September from 69.5 in August. Consumers’ long-run inflation expectations dropped from 3.0% to 2.7%, the lowest level in a year. 

State of the market

The market’s focused on the outcome of the Federal Open Market Committee meeting on Wednesday. The Federal Reserve isn’t expected to take action, but its updated quarterly economic projections will be studied with great interest, as will statements from Fed Chair Jerome Powell and the FOMC.

This morning, the Dow traded up and Treasury yields were up relative to Friday morning.

Economic calendar

Tuesday, Sept. 19

  • Housing Starts/Building Permits

Wednesday, Sept. 20

  • The FOMC concludes its meeting with a press release at 11:00 a.m. PT and a news conference 30 minutes later.

Thursday, Sept. 21

  • Weekly Initial Jobless Claims
  • Current Account Balance
  • Philadelphia Fed Manufacturing Business Outlook
  • Existing Home Sales
  • Leading Indicators

Friday, Sept. 22

  • S&P Global Flash US Composite PMI

Treasury calendar

Tuesday, Sept. 19

  • $13 billion auction of 20-year Treasury bonds

Thursday, Sept. 21

  • $15 billion auction of 10-year Treasury Inflation-Protected Securities

By Mike Kraft, Executive Director and Commercial Real Estate Treasurer for Commercial Banking

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