S&P 500 gains 9% year-to-date despite record-low consumer sentiment
The S&P 500 closed at $7,473.47, a 9% year-to-date gain, while the Nasdaq-100 climbed 17%.
Consumer sentiment hit an all-time low of 44.8 in May, with one-year inflation expectations jumping to 4.8%.
The 10-year Treasury yield sits at 4.57%, and bond markets price in stress, contrasting with calm stock options markets.