Bond Market Update

Data Recon

• July FHFA Housing Price Index (Actual 0.3%; prior 0.0%)
• July S&P Case-Shiller Home Price Index (Actual 2.5%; prior revised to 2.2% from 2.1%).
• August JOLTS - Job Openings (Actual 7.079M; Briefing.com consensus: 7.150M; prior revised to 7.335 from 7.271M)
• The Conference Board's Consumer Confidence Index decreased to 81.9 in September (Briefing.com consensus 90.0) from a downwardly revised 88.6 (from 89.4) in August. In the same period a year ago, the index stood at 95.6.
  • The key takeaway from the report is that consumer confidence weakened for both present conditions and the six-month outlook, with elevated prices for goods and services factoring into that assessment.
• Yield check:
  • 2-yr: -1 bp to 4.92%
  • 3-yr: unch at 5.01%
  • 5-yr: +1 bp to 5.08%
  • 10-yr: unch at 5.25%
  • 30-yr: +1 bp to 5.58