week proved that the equatorial latitudes of the world's oceans are not the
only place in which summer doldrums exist. With the news-worthiest of events
taking place in other arenas, the U.S. Treasury market had little reason to
leave the lower, narrower trading range it has inhabited for the past several
weeks. After starting the week around 1.60%, the Benchmark Ten Year note
reached its low yield of the week (1.57%) [last Thursday], before [Friday]
morning's sell-off pushed that level up to around 1.65%.... Read more in the Baker Market Update.