Bond Market Update

Data Recon

• The Conference Board's Consumer Confidence Index improved to 103.5 in August (Briefing.com consensus 100.0) from an upwardly revised 101.9 (from 100.3) in July.
  • The key takeaway from the report is that consumers are starting to show more concern about labor market conditions, which could eventually translate into lower consumer spending activity if that labor market angst leads to deferred discretionary spending decisions.
• Yield Check:
  • 2-yr: +1 bp to 3.94%
  • 3-yr: +2 bps to 3.76%
  • 5-yr: +3 bps to 3.69%
  • 10-yr: +4 bps to 3.86%
  • 30-yr: +5 bps to 4.15%