Bond Market Update

Data Recon

• The preliminary University of Michigan Consumer Sentiment reading for October checked in at 55.0 (Briefing.com consensus: 54.5) versus the final reading of 55.1 for September. In the same period a year ago, the index stood at 70.5.
  • The key takeaway from the report is that consumers are not expecting any meaningful improvement in prices or job prospects, a view that could potentially crimp their discretionary spending activity.
• Yield Check:
  • 2-yr: -3 bp to 3.57%
  • 3-yr: -3 bp to 3.59%
  • 5-yr: -4 bps to 3.70%
  • 10-yr: -5 bps to 4.10%
  • 30-yr: -6 bps to 4.67%