Bond Market Update

Data Recon

• The preliminary Index of Consumer Sentiment for July hit 66.0 (Briefing.com consensus 67.5), down from June's final reading of 68.2. In the same period a year ago, the index stood at 71.5.
  • The key takeaway from the report was that it showed little change relative to June, as many consumers remained burdened by high prices, though inflation expectations dipped slightly.
• Yield Check:
  • 2-yr: -3 bps to 4.48%
  • 3-yr: -2 bps to 4.25%
  • 5-yr: -1 bp to 4.12%
  • 10-yr: +1 bp to 4.20%
  • 30-yr: +1 bp to 4.42%