Bond Market Update

Data Recon

• The preliminary University of Michigan Consumer Sentiment Index for July edged higher to 61.8 (Briefing.com consensus: 61.5) from the final reading of 60.7 for June, hitting its highest level in five months. In the same period a year ago, the index stood at 66.4.
  • The key takeaway from the report is that consumer sentiment, while not strong, has improved in recent months along with inflation expectations.
• Yield Check:
  • 2-yr: -4 bps to 3.88%
  • 3-yr: -4 bps to 3.85%
  • 5-yr: -4 bps to 3.97%
  • 10-yr: -3 bps to 4.44%
  • 30-yr: -1 bp to 5.00%