US INFLATION FEARS HIT HIGHEST LEVEL SINCE MAY

US year-ahead inflation expectations rose to 4.7% in October, the University of Michigan's Surveys of Consumers show, up from 4.6% in September and the highest reading since May. The current level sits far above the 3.4% seen in February, before the Iran conflict began. The University of Michigan says lower-income consumers and those with smaller stock portfolios are absorbing most of the pain, even as broad sentiment barely moved. The $RINF inflation-expectations ETF tracks exactly that dynamic: inflation keeps drifting higher while asset owners stay comfortably insulated.