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A flood of news last week had the potential to yield big moves in short-term markets.  At the end of the week, though, the Federal Open Market Committee meeting, President Trump’s naming of Kevin Warsh as his nominee to chair the FOMC, the usual ups and downs in tariffs land and coming of another (short-term?) government shutdown had almost no effect on rates. LGIP  yields were unchanged on the week  Further out the curve one-and two-year Treasury yields declined modestly.  Why is not clear.  The FOMC statement at the end of the meeting,  higher than expected producer inflation data and continued evidence that the economy remained on a growth path could mean future cuts were likely to be further out in time and more modest in size.  But investors pushed 12-and 24-month rates lower by four and seven basis points respectively.  Go figure.