UMich Sentiment Disappoints To End June As Republican Confidence Slumps June's preliminary rebound in UMich sentiment was expected to have accelerated into month-end but analysts were wrong as the the final data all fell relative to the mid-month reads with 'Current Conditions' actually lower in June versus May (from 89.4 to 88.6). Source: Bloomberg Republican sentiment continues to slide as Democrats' confidence rebounds from a dip in May... Source: Bloomberg Inflation expectations fell on MoM basis but the short-term (1Y) expectation actually increased from mid-month 4.0% to 4.2% final... Source: Bloomberg Buying Conditions remain extremely weak (where's my stimmy?) but we did see a modest rebound (very modest) in large household durables... Source: Bloomberg And finally, putting that collapse in homebuying sentiment in context, it appears homebuilders are in a reality all of their own... Source: Bloomberg Or maybe those homebuyers are just not buying the dip enough in the latest Fed-sponsored meme-stock to accumulate enough wealth to afford a down-payment? Tyler Durden Fri, 06/25/2021 - 10:08