US: Consumer expectations and consumer credit in focus - Nomura

Research Team at Nomura suggests that the NY Fed survey of consumer expectations and consumer credit data will be in focus for today’s US session.

Key Quotes

“NY Fed Survey of Consumer Expectations: The three-year inflation expectations measure from this survey was at 2.71% in November, largely within a steady range. In the minutes from 13-14 December FOMC meeting, the members indicated that they continued to look through such volatility and indicated that “most survey-based measures of longer-term inflation expectations are little changed, on balance, in recent months.” A steady reading in December would reaffirm the Fed’s view that inflation expectation remains well anchored.”

“Consumer credit: Consumer credit expanded by $16.0bn in October following an increase of $21.8bn in September. Both revolving and nonrevolving credit continued to expand at a healthy pace. As consumer fundamentals remain healthy, this trend will likely continue. Consensus expects consumer credit to expand at a steady pace in November at $18.2bn.”