On Friday of last week, while the bond market was closed for Veteran’s Day, we did receive some economic news. The University of Michigan consumer sentiment index went a little up from October to November. It was 91.6 in November, up around 4 points from October. The general take-away is people participating in the survey are feeling good about the economy, while expectations for inflation are growing.
It’s too early to tell whether inflation expectations should be a concern. And this was based on data collected before the election on Tuesday November 8.