Bond Market Update

Data Recon

• The final University of Michigan Index of Consumer Sentiment for November dipped to 71.8 (Briefing.com consensus 73.0) from the preliminary reading of 73.0. The final reading for October was 70.5. In the same period a year ago, the index stood at 61.3.
  • The key takeaway from the report is that consumer sentiment held fairly steady in the wake of the election, albeit with offsetting economic expectations that were aligned with partisan positions.
• Yield Check:
  • 2-yr: +1 bp to 4.36%
  • 3-yr: +1 bp to 4.31%
  • 5-yr: UNCH at 4.30%
  • 10-yr: -1 bp to 4.42%
  • 30-yr: -2 bps to 4.61%