Today brings the week's first major economic data with 10am Consumer Confidence serving as the headliner.  Before that, we'll get an update on home prices from Case-Shiller.  This is slightly more interesting than normal given that several recent Home Price Indices suggest a big-picture shift away from stable-to-accelerating price appreciation.

The 5yr Treasury auction at 1pm is the most relevant auction of the week.  It's not typically a huge market mover, but it can always have an impact if it is significantly stronger or weaker than forecast.  Especially in these cases where yields have just gone on nice little run, the demand at auction can serve to endorse or reject that momentum.

In addition to auctions, we'll need to keep an eye out for the impact of corporate debt issuance.  Several firms are already out with announcements of new offerings this morning.  If the list (and dollar amount) grows, it could put additional "supply pressure" on bond markets.  For more on how corporate issuance can affect rates, check out this primer.