After a flurry of competitive deals Tuesday, the primary market took a breather Wednesday and traders turned to the secondary market.

"It's fairly quiet," a New York trader said. "We see some stuff out for the bid, but nothing that would get the blood pumping. There's really no primary market to speak of today."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

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