June US prelim Mich consumer sentiment 48.9 vs 46.0 expected

• Prior was 48.2
• Current conditions 48.4 vs 46.2 expected (prior was 45.8)
• Expectations 49.3 vs 44.3 expected (prior was 44.1)
• 1-year inflation 4.6% vs 4.8% prior
• 5-year inflation 3.4% vs 3.9% prior

I don’t know why anyone cares about this report at this point. It’s been in the doldrums forever and hasn’t predicted any slowdown in consumer spending. It’s highly split on political lines and it tripped up the FOMC a few years ago with an illusory jump in inflation expectations that was revised away shortly afterwards.

Don’t trade on this indicator.

This article was written by Adam Button at investinglive.com.