According to analysts at TD Securities, consensus is expecting the University of Michigan's sentiment report to show a slight dip in its index to a still firm 97.1 level in May following a 1.2 decline to 97.2 in April in the US session.
“Given its heightened relevance in current Fed discussions, market participants are likely to focus on the inflation expectations components, particularly in the 5-10yr measure as it has recently flirted with all-time lows at 2.3%.”
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