Bond Market Update

Data Recon

• The Conference Board's Consumer Confidence Index dropped to 86.0 in April (Briefing.com consensus 88.3) from an upwardly revised 93.9 (from 92.9) in March. This was the fifth straight month that consumer confidence declined.
  • The key takeaway from the report is that the drop in confidence was guided primarily by the decline in consumers' outlook, which was driven by worsening views of business conditions, employment prospects, and future income. The drop in confidence was broad-based across all age groups and most income groups.
• Yield Check:
  • 2-yr: -1 bp to 3.67%
  • 3-yr: -1 bp to 3.67%
  • 5-yr: -2 bps to 3.80%
  • 10-yr: -2 bps to 4.20%
  • 30-yr: -2 bps to 4.68%