Bond Market Update

Data Recon

• The final reading for the University of Michigan Consumer Sentiment Index for August increased to 51.7 (Briefing.com consensus: 51.0) from the preliminary reading of 51.0. The final reading for July was 55.2. In the same period a year ago, the index stood at 58.2.
  • The key takeaway from the report is that persistent inflation concerns are undercutting consumer sentiment.
• Yield Check:
  • 2-yr: +6 bps to 4.29%
  • 3-yr: +5 bps to 4.35%
  • 5-yr: +4 bps to 4.44%
  • 10-yr: +2 bps to 4.69%
  • 30-yr: -2 bps to 5.17%