Treasury Market Summary
Treasury Market Summary: The markets were quiet at midweek, mostly spinning their wheels amid a lack of fresh catalysts. Both bonds and stocks were modestly firmer in early action, but gains faded as demand dried up. Wall Street continued to struggle with mixed earnings reports, along with ongoing uncertainties over Brexit and trade. While there's been progress on both issues, with the worst-case scenarios having been priced out, neither has yet to be resolved. Hence, Treasuries maintained a modest safety bid, with support from the more bullish tone out of EGBs. Treasuries are also looking ahead to next week's FOMC meeting where another rate cut is expected. The Treasury's 5-year auction was well received, but it failed to give any traction. There was no data on the day. View the summary.