Bond Market Update

Data Recon

• The preliminary University of Michigan Index of Consumer Sentiment for December increased to 74.0 (Briefing.com consensus 73.5) from the final reading of 71.8 for November. In the same period a year ago, the index stood at 69.7.
  • The key takeaway from the report is the understanding that consumers were targeting the purchase of durables now to avoid what they think will be higher prices in the future.
• Yield Check:
  • 2-yr: -7 bps to 4.08%
  • 3-yr: -6 bps to 4.04%
  • 5-yr: -6 bps to 4.02%
  • 10-yr: -4 bps to 4.14%
  • 30-yr: -2 bps to 4.32%