Bond Market Update

Data Recon

• The preliminary reading for the University of Michigan Consumer Sentiment Index for May dropped to 48.2 (Briefing.com consensus: 50.5) from the final reading of 49.8 for April. In the same period a year ago, the index stood at 52.2.
  • The key takeaway from the report is that consumers are clearly concerned about rising costs and their ability to out-earn the inflation.
• Yield Check:
  • 2-yr: -4 bps to 3.88%
  • 3-yr: -4 bps to 3.91%
  • 5-yr: -4 bps to 4.00%
  • 10-yr: -4 bps to 4.35%
  • 30-yr: -3 bps to 4.94%