Investment Implications of Record Low Consumer Sentiment

Last week, the University of Michigan reported its long-running (since 1952) Consumer Sentiment Index hit a record low in May, undercutting 2022’s weakest-ever reading. Much of the coverage sweated this foretells bad things for America’s economy and stocks. We doubt it. While everyone is entitled to their emotions, surveys of consumers’ feelings tell you little about actual economic activity going forward. Read Full Article »