The stock market was pretty quiet this week. Yes the S&P 500 put up its first loss in almost a month, but the daily moves were pretty timid. The bigger action was in the bond market, where yields are climbing. The 10-year Treasury rose as high as 87 bps on Friday after starting the week at 75 bps, and it came close to hitting its 200-dma. With the VIX sliding as volatility falls, it appears traders are being mindful of risk and taking wait-and-see approach to what comes next before making any serious moves.