Bond Market Update

Data Recon

• The Conference Board's Consumer Confidence Index dropped to 98.3 in February (Briefing.com consensus 103.1) from an upwardly revised 105.3 (from 104.1) in January. This was the largest monthly decline since August 2021.
  • The key takeaway from the report is that the drop in confidence was seen across all age groups with worries about tariffs, inflation, and future employment prospects driving the decline.
• Yield Check:
  • 2-yr: -8 bps to 4.09%
  • 3-yr: -9 bps to 4.08%
  • 5-yr: -10 bps to 4.13%
  • 10-yr: -10 bps to 4.29%
  • 30-yr: -8 bps to 4.56%