Treasurys (TLT +1.3%) quietly put together a big rally today with the yield on the 30-year off 6...

|By:, SA News Editor

Treasurys (TLT +1.3%) quietly put together a big rally today with the yield on the 30-year off 6 bps to 3.57% and the 10-year off 4 bps to 2.49%. The 5-year (IEI +0.2%) - which touched 1.6% in early July - is off another 10 bps this week to 1.3% as traders begin to regain their senses about Fed tightening: Not even one full rate hike is baked into the Fed Funds futures market through the end of 2014. Favorite of the Treasury bears, TBT -2.4%.