00:00The University of Michigan is reporting we're a whole lot happier than we were yesterday,
00:03or when the last time they took their survey. 56.4, up from 54. So a significant increase in
00:10sentiment. Current conditions rise to 55.4 from 52.4, and expectations to 57 from 55. So across
00:18the whole expectations curve, we see an improvement. And we see an improvement in the inflation
00:24outlook. The one-year now down to 4 percent from 4.2 percent, and the 5 to 10 at 3.3, down from 3.4.
00:33So some good news there. Just a few minutes ago, the S&P Global U.S. Manufacturing PMI came in at 51.9,
00:40up from 51.8. Services also rose by a point, as did the composite. So overall, these sentiment
00:48indicators are suggesting that something turned around in the last week or so, and things are
00:53looking a little bit better to people in both business and on their own.
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