The action in the Treasury market so far this week could be summed up in a line from a song by Tom Petty and the Heartbreakers: "The waiting is the hardest part."

Government note and bond prices again drifted aimlessly yesterday as most participants remained on the sidelines ahead of this morning's release of the November producer price index.

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.