Bond Market Update

Data Recon

• The final University of Michigan Consumer Sentiment reading for August checked in at 58.2 (Briefing.com consensus: 58.6) versus the preliminary reading of 58.6 and the final reading of 61.7 for July. In the same period a year ago, the index stood at 67.9.
  • The key takeaway from the report is that perceptions about the economy slipped in many aspects, and the weaker sentiment was visible across groups by age, income, and stock wealth.
• Yield Check:
  • 2-yr: -2 bps to 3.62%
  • 3-yr: UNCH at 3.59%
  • 5-yr: UNCH at 3.70%
  • 10-yr: +1 bp to 4.22%
  • 30-yr: +3 bps to 4.90%