Bond Market Update

Data Recon

• The preliminary University of Michigan Index of Consumer Sentiment for November jumped to 73.0 (Briefing.com consensus 70.6) from 70.5 in October. In the same period a year ago, the index stood at 61.3.
  • The key takeaway from the report is that the responses were tabulated before the election results and reveal that consumers were already feeling more upbeat about their income prospects and short-run business conditions.
• Yield Check:
  • 2-yr: -1 bp to 4.21%
  • 3-yr: -3 bps to 4.15%
  • 5-yr: -5 bps to 4.15%
  • 10-yr: -7 bps to 4.27%
  • 30-yr: -8 bps to 4.46%