Denied at 3.55: Trade was getting slammed in decent sized action with the long end leading lower while the shorter stuff holds in as safety players shift down the curve, but are still hunting for quality. The drop in wholesale inventories was actually better than expected, sort of, still in negative territory, but on an upswing. The 10-yr has been swung about 9.5 basis points on the session while the 30-yr went near 10.5bps.The 10-yr fell off to tag the 3.55% level where it was flipped and went back bid. The market is facing a huge run of record supply next week, even as global corporate offerings drop off steeply. The ongoing run on gold has been spooking traders, but the growing depth of supply on the longer end is sending buyers down the calendar.