Market Continues its Course with Mixed Sentimentsđ
Friday was a continuation day in the markets from earlier in the week, with equities weaker on softer forward guidance, rates pivoting steeper around the belly on robust US data, credit spreads higher on widening treasury term premium and concerns over weakening consumer spending, and USD/Gold/BTC holding firm to their week's gains on the continued flight-to-quality themes. US data came in mostly in-line on Friday, with personal income and PCE deflator coming in largely as expected. U-Mich consumer sentiment edged up on the headline, though 1yr inflation expectations came in much higher at 4.2% vs 3.8% expected. Long term inflation also edged up to 3.0% following a brief dip to 2.8% last month.
