Bond Market Update

Data Recon

• The preliminary final University of Michigan Consumer Sentiment reading for January increased to 56.0 (Briefing.com consensus: 54.0) from the preliminary reading of 54.0 and the final reading of 52.9 for December. In the same period a year ago, the index stood at 71.7.
  • The key takeaway from the report is that consumer sentiment, while improved a bit, is still guarded due to lingering concerns about high prices and softening labor markets.
• Yield Check:
  • 2-yr: -1 bp to 3.60%
  • 3-yr: -1 bp to 3.67%
  • 5-yr: -1 bp to 3.84%
  • 10-yr: -1 bp to 4.24%
  • 30-yr: -1 bp to 4.83%