Bond market like a coiled spring before long-awaited Fed confab

Robust demand: A trader works on the floor of the New York Stock Exchange. Treasuries gained last week after a survey showed the weakest consumer confidence since 2011 amid surging coronavirus cases. — Bloomberg

WASHINGTON: Treasuries are like a coiled spring ahead of the Federal Reserve’s (Fed) long-awaited Wyoming confab, with traders showing less conviction than they have in months about the market’s next move.

Benchmark yields finished this week little changed from seven days earlier, even after a stretch that saw a record-breaking 10-year auction, the lowest consumer-sentiment reading in a decade and another elevated inflation figure.