Bond Market Update

Data Recon

• The preliminary October University of Michigan index of Consumer Sentiment slipped to 68.9 (Briefing.com consensus 70.1) from the final reading of 70.1 for September. In the same period a year ago, the index stood at 63.8.
  • The key takeaway from the report is that consumers remain frustrated over high prices; nonetheless, sentiment is still higher than it was a year ago and is close to 40% above the trough seen in June 2022.
• Yield Check:
  • 2-yr: -4 bps to 3.96%
  • 3-yr: -3 bps to 3.88%
  • 5-yr: -1 bp to 3.91%
  • 10-yr: UNCH at 4.10%
  • 30-yr: +2 bps to 4.40%