Bonds Lower

Treasuries were lower Wednesday after a disappointing 5-year auction in the afternoon

S&P MARKETSCOPE: Treasurys, which rallied yesterday on a short squeeze after the FOMC minutes release, were lower following a disappointing 5-year auction this afternoon. The market had held steady this morning following lower than expected Retail Sales results, which took pressure off the Fed to become more aggressive in tightening credit. Tomorrow's expected lower Initial Jobless Claims won't do much for market, nor will lower Business Inventories.

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