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In my Friday market-close update I said that the S&P 500 went nowhere and that the 0.28% intraday range (percent change from the low to the high) was the smallest of 2013 ... that is, until yesterday. The index spent the day hovering just below Friday's closing price in a microscopic 0.20% range. For some context, the average intraday range this year has been 0.86%. The index closed the day with a tiny loss of 0.02%.
According to the U.S. Treasury, the yield on the 10-year note closed at 2.99%, three bps below its interim high on Friday.
Here is a 30-minute look at the past nine sessions, which includes the big post-FOMC rally on December 18th.
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