Consumer sentiment comes in at 55.1 vs. 55.4 estimated

Core Insights - The University of Michigan sentiment and inflation numbers for September indicate a deterioration in growth expectations, with key metrics showing declines from previous readings [1][2]. Sentiment Analysis - The overall sentiment index decreased to 55.1% from 55.4%, marking the weakest level since May [2]. - Current conditions sentiment fell to 60.4% from a mid-month rate of 61.2%, also reflecting a decline [2]. - Expectations sentiment slightly decreased from 51.8% mid-month to 51.7%, remaining the weakest since May [2]. Inflation Expectations - One-year inflation expectations are projected at 4.8%, unchanged from the last reading [2]. - The mid-month inflation expectation was recorded at 4.7%, while the 5 to 10-year inflation expectation decreased from 3.9% to 3.7%, compared to 3.5% in February [3]. Market Response - The 10-year Treasury yield increased by about one basis point to 4.18%, down from 4.13% last week, indicating a slight market adjustment [3]. - The 2-year Treasury yield settled at 2.57%, down almost 10 basis points on the week, showing minimal change on the day [4].