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

CPI 3.7% +0.4 CPI energy 20.4% +4.3 PPI 6.3% +0.8 Michigan 4.6 +0.6 Jobless 4.2 +0.1 Philly Fed 20.9 -16.9 WTI 103.2 +1.2 US 10Y 4.989 -0.1 S&P 500 7681.25 -73.0 Nasdaq 100 28966.25 -595.8 Gold 4001.4 -30.0 Dow 52405.0 -107.0 Trident Dow LONG 52405.0 Trident S&P 500 LONG 7681.25 Trident Nasdaq 100 LONG 28966.5 Trident Crude LONG 103.2 Trident Gold LONG 4001.4 Trident Euro LONG 1.1211

2026-10-23 15:15 UTC Data update 4 min read Original

CrowdMood Column

Michigan 2026-09: households still pay the bill

Michigan 1Y inflation exp. 4.6 (+0.60 from prior, 2026-09).

The desk read

Inflation expectations that firm are usually an energy-and-grocery story in this survey, not a theory seminar. That is how goods inflation gets into the 10-year: households already paid, then bond buyers eventually price it. Mood can look 'resilient' in the nickname and still be a squeeze in tickets. Tape: WTI 102.13, US 10Y 4.997.