"Underpinning the better vibes was the health of the US consumer. Despite sticky inflation, tariff noise, a cooler labor market (with a side of existential dread about AI taking jobs), and a frozen housing market, spending held up."
Personally, this is the most surprising piece to me. The downbeat headlines on labor (particularly white-collar labor) would have believe that households would start tightening their belts, but evidently that isn't happening yet.
"Underpinning the better vibes was the health of the US consumer. Despite sticky inflation, tariff noise, a cooler labor market (with a side of existential dread about AI taking jobs), and a frozen housing market, spending held up."
Personally, this is the most surprising piece to me. The downbeat headlines on labor (particularly white-collar labor) would have believe that households would start tightening their belts, but evidently that isn't happening yet.