Rough Ride Exacting A Toll

2025-04-14 10:15:00 ET

Summary

• Preliminary estimates show that the University of Michigan’s consumer sentiment for the US plunged to 50.8 in April.
• According to the Bank of Canada’s Q1 Business Outlook Survey, business investment and hiring intentions have weakened considerably, with employment plans falling below pandemic-era lows.
• New Treasury Secretary Scott Bessent has said his office is focused on extending the term of the Federal debt to lower interest costs and extend payback periods.

Preliminary estimates show that the University of Michigan’s consumer sentiment for the US plunged to 50.8 in April - below forecasts of 54.5 - and the lowest level since June 2022. Consumer sentiment has fallen 40% since November 2024 (below since 1970, courtesy of The Financial Times)....

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