Svmuu News: Samuel Tombs of Pantheon noted that the University of Michigan Consumer Sentiment Index rose to 54.4 from 49.5 in June, exceeding economists’ expectations of 50.5 but remaining below last year’s average. Samuel Tombs noted that declining inflation expectations offer some comfort to the Federal Reserve, but workers’ lack of bargaining power means it is highly unlikely that wage growth will accelerate due to the recent rebound in overall inflation. (Jin Shi)