Bond Market Update

Data Recon

• The Conference Board's Leading Economic Indicators for July declined 0.6% (Briefing.com consensus -0.3%) following a 0.2% decline in June. July marked the 29th consecutive month that the Leading Economic Indicators has printed a negative number.
  • The downturn in July was driven by widespread weakness in non-financial components, but the key takeaway from the report is that the six-month annual growth rate no longer signals a recession ahead, according to the Conference Board.
• Yield check:
  • 2-yr: unch at 4.06%
  • 3-yr: -1 bp to 3.86%
  • 5-yr: -1 bp to 3.77%
  • 10-yr: -1 bp to 3.88%
  • 30-yr: -2 bps to 4.13%