The new-issue market took a breather yesterday after Tuesday's close to $3 billion marathon.

By late yesterday, just three federal agency deals totaling $848 million were priced. One trader cited yesterday's backup in interest rates and the Treasury's 10-year auction as reasons for the thin supply.

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.