4.0's ticking up to 99-30 and 4.5's at 101-26.

This follows the tracing of a very slow and very steady upward trend channel so far today.

Support is continuing to come from Tsy yields at the lows of the day.  Whereas we are only up 8 ticks on the 4.0, the 10 YR tsy is up a mighty 20 ticks.  This pulls back some of the spread tightening that took place last week, but all in all price improvements should continue to trickle in here and there until further notice.

Stay tuned...