Bond Market Update

Data Recon

• The preliminary reading for the University of Michigan Consumer Sentiment Index for September sunk to 47.8 (Briefing.com consensus: 51.5) from 51.7 in August. In the same period a year ago, the index stood at 55.1.
  • The key takeaway from the report is the dour outlook embedded in the index of consumer expectations, which was plagued by a worsening outlook for personal finances and business conditions.
• Yield Check:
  • 2-yr: +3 bps to 4.58%
  • 3-yr: +2 bps to 4.67%
  • 5-yr: +1 bp to 4.74%
  • 10-yr: -1 bp to 4.93%
  • 30-yr: -3 bps to 5.33%