Bond Market Update

Data Recon

• The preliminary University of Michigan Consumer Sentiment Index for August fell to 58.6 (Briefing.com consensus: 61.3) from the final reading of 61.7 for July. In the same period a year ago, the index stood at 67.9.
  • The key takeaway from the report is that it marked the first downturn in consumer sentiment in four months, driven by rising worries about inflation.
• Yield Check:
  • 2-yr: -1 bp to 3.73%
  • 3-yr: -1 bp to 3.69%
  • 5-yr: UNCH at 3.82%
  • 10-yr: +1 bp to 4.30%
  • 30-yr: +2 bps to 4.90%