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From Standard & Poor's Equity ResearchAction Economics: Yields steadied near session lows mid-morning Wednesday after the business inventory report came in near expectations and didn't really add any color to the earlier large mood swing on Treasuries. The firm early round of retail sales and import price data had shoved yields to trend highs, only to be knocked down by good central bank buying on the 30-year and reports of hedge fund troubles and one investment bank.
The 10-year yield topped out near 5.32% and subsequently slumped to 5.22% before finding its footing again.
Up next are the EIA energy inventory report and the Fed's Beige Book. Note, the Treasury FX report did not name China as a manipulator, though still pushing for reforms.