Ultimately a Very Drama-Free Day; Back to Watching Data

Tuesday helped buck the recent trend of frustratingly counterintuitive selling sprees in the bond market.  The amount of blame assigned to politics or to the arcane practices dictating monthly positioning in bonds can be debated, but there's less urgency on that front with today bringing moderate improvement.  Fed Chair Powell's appearance at SINTRA was a non-event, but perhaps in a "no whammies" sort of way.  Bonds gradually improved during his time on stage but lost some ground after the JOLTS data (as it should be, considering the higher than expected reading).  Buyers held firm, however, and we hit the close with gains intact.  To some, that's proof positive that there's no glacial repricing of risk following the presidential debate.  To others, it's a suggestion that it didn't matter as much as it may have seemed.  Either way, we have big ticket data to look forward to in the next two business days.