Bond Market Update

Data Recon

• The preliminary University of Michigan Consumer Sentiment reading for September checked in at 55.4 (Briefing.com consensus: 59.2) versus the final reading of 58.2 for August. In the same period a year ago, the index stood at 70.1.
  • The key takeaway from the report is that the pullback in consumer sentiment was paced by fading economic views among lower-income and middle-income consumers.
• Yield Check:
  • 2-yr: +2 bps to 3.55%
  • 3-yr: +3 bps to 3.52%
  • 5-yr: +4 bps to 3.62%
  • 10-yr: +5 bps to 4.06%
  • 30-yr: +4 bps to 4.69%