• Consumer Sentiment
  • 60.5 vs 53.5 f'cast, 52.2 prev
• 1yr inflation expectations
  • 5.1 vs 6.6 prev

Consumer sentiment has been a sub-par market mover at best, recently, but this morning's installment may be an exception.   10yr yields have moved up from 4.38+ to 4.40+ since the data and MBS have lost another eighth of a point (bringing the total to a quarter point on the day).

The "yeah but" is that the selling didn't start until 10:06am, which seems odd if a 10am report is the culprit.  Additionally, stocks have continued to sell which also seems odd if sentiment data is driving a "risk-on" reaction in bonds. Perhaps there are other considerations in play, but if so, they're not as visible at the moment.