Bond Market Update

Data Recon

• The Conference Board's Consumer Confidence Index dropped to 88.7 in November (Briefing.com consensus 93.3) from an upwardly revised 95.5 (from 94.6) in October. In the same period a year ago, the index stood at 112.8.
  • The key takeaway from the report is that there was a further deterioration in the expectations index, with sentiment on business conditions, labor market conditions, and household income all trending negatively. That could portend a slowdown in discretionary spending activity.
• Yield Check:
  • 2-yr: -2 bps to 3.49%
  • 3-yr: UNCH at 3.49%
  • 5-yr: -1 bp to 3.59%
  • 10-yr: -3 bps to 4.01%
  • 30-yr: -3 bps to 4.65%