Analysts at Nomura noted the University of Michigan consumer sentiment coming up as a key event in the US shift.
"Consumer sentiment remained elevated in the final reading for August with a continuation of the partisan divide in current and expectations sentiment. We expect consumers to remain optimistic in September."
"The partisan tinge will likely persist over the next few months but overall, consumers appear to be upbeat about the current situation and future outlook for the economy."
"In August, inflation expectations at the 1-year horizon remained unchanged at 2.6%; at the 5-10 year horizon, expectations ticked down 0.1pp to 2.5%. We expect a steady reading within a stable range. Note that the FOMC tends to look through monthly volatility in these measures. Consensus expects continued optimism albeit with a slight 1.8pp decline to 95.0."
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