Consumer sentiment above expectations in first Jan. read

Bonds

The University of Michigan’s preliminary January consumer sentiment index reading was 90.7, compared to the final December 98.3 and the preliminary December 97.5, according to market sources.

The Institute for Social Research at the University of Michigan, which releases the consumer sentiment report.

Bloomberg News

The expectations index was 78.3 compared to the final December 87.0 and the preliminary December 86.1.

The current conditions index was 110.0, compared to the final December 116.1 and the preliminary December 115.2.

Economists polled by IFR Markets had predicted a 96.9 reading for the main index.

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The five-year inflation expectation index was 2.6%, compared to 2.5% in December, while the one-year inflation expectation index was 2.7%, compared to 2.7% in December.

The University of Michigan index is not released to the press, but only to paying subscribers.

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