Bond Market Update

Data Recon

• The final reading for the University of Michigan Consumer Sentiment Index for July increased to 55.2 (Briefing.com consensus: 54.4) from the preliminary reading of 54.4 and the final reading of 49.5 for June. In the same period a year ago, the index stood at 61.7.
  • The key takeaway from the report is that sentiment held okay in July, even as gas prices started to rise again amid increased military hostilities between the U.S. and Iran.
• Yield Check:
  • 2-yr: +6 bps to 4.29%
  • 3-yr: +7 bps to 4.35%
  • 5-yr: +7 bps to 4.45%
  • 10-yr: +7 bps to 4.73%
  • 30-yr: +6 bps to 5.27%