Bond Market Update

Data Recon

• The Conference Board's Consumer Confidence Index slipped to 93.1 in May (Briefing.com consensus: 92.0) from an upwardly revised 93.8 (from 92.8) in April. In the same period a year ago, the index stood at 98.4.
  • The key takeaway from the report is that inflation pressures had consumers feeling less optimistic about current conditions; however, those same pressures did not squash expectations for better conditions six months from now.
• Yield Check:
  • 2-yr: -5 bps to 4.07%
  • 3-yr: -6 bps to 4.11%
  • 5-yr: -6 bps to 4.19%
  • 10-yr: -6 bps to 4.50%
  • 30-yr: -5 bps to 5.02%