Now Overheating 3M Overheating 6M Late cycle 1Y Late cycle

CPI 3.7% +0.4 CPI energy 20.4% +4.3 PPI 6.5% +0.2 Michigan 4.6 +0.6 Jobless 4.1 -0.1 Philly Fed 20.9 -16.9 WTI 88.92 +0.2 US 10Y 5.154 +0.1 S&P 500 7561.0 -54.2 Nasdaq 100 27927.25 -457.2 Gold 3887.6 +2.3 Dow 52347.0 -43.0 Trident Dow LONG 52347.0 Trident S&P 500 LONG 7561.0 Trident Nasdaq 100 LONG 27927.25 Trident Crude LONG 88.92 Trident Gold LONG 3887.6 Trident Euro LONG 1.1036

2026-09-25 15:18 UTC Data update 4 min read Original

CrowdMood Column

Michigan 2026-08: households still pay the bill

Michigan 1Y inflation exp. 4 (-0.20 from prior, 2026-08).

The desk read

Softer inflation expectations are not a solved CPI. The survey moves with gasoline headlines. If the barrel is quiet because China shut the tap, the expectation print can sag while the geology stays tight. Keep the household tape next to WTI, not next to a victory lap. Tape: WTI 94.04, US 10Y 5.209.