Stocks have made a quick, stealthy U-turn, as investors shake off concerns about Syria and redirect focus on the Fed.
But traders will be watching a meeting Thursday between Secretary of State John Kerry and his counterpart Russian Foreign Minister Sergei Lavrov in Geneva to see if a diplomatic resolution, rather than a military strike, is the likelier outcome for Syria. The two are attending a hastily called meeting to discuss possible removal of chemical weapons controlled by the Syrian government.
"There's no geopolitical risk in Treasurys right now," said George Goncalves, Treasury strategist at Nomura Americas. "If there was a breakdown in communications, and we aren't going down the road of trying to be diplomatic, Treasurys would get a bid and stocks wouldn't like it."