Today's most notable feature is it's lack of volume and participation.  Both have subsided since last Wednesday--proof positive that economic data is of secondary importance to tradeflows and positioning (because Wednesday was the first day of a new month/quarter, and hence a heavy day for tradeflows).  This is also why bonds were able to hold their ground fairly well in the face of a stronger Jobs report on Friday.

After an initial sell-off on Friday morning, Treasuries and MBS trudged steadily back toward positive territory.  The move leveled-off overnight and looked to be reversing this morning.  Bonds took cues from stocks however, and as stocks moved lower at the open, bond yields have followed.  MBS and Treasuries both edged into positive territory heading into the noon hour.