US Consumer Sentiment Falls to Record-Low 47.6 Amid Iran War

US consumer sentiment fell to a record-low 47.6 in April, the weakest reading in the University of Michigan’s 74-year survey history. The preliminary reading was down 10.7% from March, and one-year inflation expectations rose to 4.8%. Treasury yields moved higher after the release as investors priced in a slower pace of Federal Reserve rate cuts through the summer.

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