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S1E162 - When Firms and Households Fear the Same Shock

EPISODE · Apr 25, 2026 · 10 MIN

S1E162 - When Firms and Households Fear the Same Shock

from Thinking in Markets · host Vox

Germany's ifo business expectations and the University of Michigan consumer survey both weakened in April 2026, but they are not measuring the same thing. Michelle and Vox explain how firm surveys and household surveys translate the same energy shock into different market signals for equities, bonds, currencies, and policy expectations.

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S1E162 - When Firms and Households Fear the Same Shock

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