Bonds Higher

Treasury prices rose on Wednesday on a successful 5-year auction. The 10-year treasury yield hit 3.5-month lows

Treasuries rose on Wednesday as a 5-year note auction was well received, according to S&P's MarketScope. During the course of the trading day, treasuries plunged on a Greg Ip article suggesting that the Fed's "measured" language would soon go, according to the Fed's Guynn, with a warning that rates will soon rise, according to Informa. But prices soon moved up again on stellar 5-year auction results. The 10-year treasury yield dropped to a 3.5-month low but failed to bolster equities.

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