Bond Market Update

Data Recon

• The preliminary University of Michigan Consumer Sentiment reading for November fell to 50.3 (Briefing.com consensus: 54.0) from the final reading of 53.6 for October. In the same period a year ago, the index stood at 71.8.
  • The key takeaway from the report is that the decline in sentiment was widespread across the population, with one notable exception: consumers within the largest tercile of stock holdings.
• Yield Check:
  • 2-yr: -2 bps to 3.55%
  • 3-yr: -2 bps to 3.56%
  • 5-yr: -1 bp to 3.68%
  • 10-yr: UNCH at 4.09%
  • 30-yr: +1 bp to 4.70%