Bonds received a boost on Wednesday from the FOMC (Fed) announcement which downgraded slightly its assessment of the U.S. economy. As expected, the Fed will not be raising interest rates anytime soon.
The 5 year note auction was a horrible affair, one of the weaker sales reported in many months. Keep in mind today the U.S. Treasury will sell $30 billion of 7 year notes, so keep a watchful eye on the markets.
The bond market opened strong this morning, but has since faded to unchanged on the day, while stocks are lower. Take advantage of the rates sooner rather than later.
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