Bond Market Update

Data Recon

• The Conference Board's Consumer Confidence Index dropped to 100.4 in June (Briefing.com consensus 100.0) from a downwardly revised 101.3 (from 102.0) in May, with expectations weighing on the overall index.
  • The key takeaway from the report is that expectations for future income weakened. If that perception builds and/or is realized, then it is apt to detract from discretionary spending activity.
• Yield Check:
  • 2-yr: +2 bps to 4.75%
  • 3-yr: UNCH at 4.47%
  • 5-yr: UNCH at 4.27%
  • 10-yr: UNCH at 4.25%
  • 30-yr: UNCH at 4.38%