Slow Burn With Little to Blame

Bonds started out sideways and lost a minimal amount of ground very gradually throughout the day. While there were multiple Fed speakers on tap, none of the comments garnered any clear reaction. In terms of timing, the losses only really line up with the start of the 9:30am NYSE open--something that can sometimes create tradeflow dynamics that impact bonds--especially when we're only talking about the sort of modest move seen today.