The Federal Reserve's third rate cut in the last two months had little impact Tuesday on the market for bank bonds, which had already shifted into high gear after the earlier cuts.

The cuts create a more favorable lending environment for banks, but traders noted there was little buying of bank bonds this time around.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.