University of Michigan consumer sentiment index falls to 77.9 in April (< estimate 79).
Inflation expectations for next year and long-term rise simultaneously increase:
1 year: 3.1% vs 2.9% previous.
MARKET DAILY
Market 04/12: Geopolitical risks affect financial markets
Consumer confidence drops sharply due to inflation concerns. Megabanks earnings reports flood in. High import prices put pressure on US inflation.
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