It's understandably nerve-wracking for fans of low rates to see a congressional testimony from Fed Chair Powell on the calendar.  Granted, some of those fans may not be familiar with the Humphrey Hawkins speeches, but others will remember times that they resulted in significant movement in rates.  With the lion's share of rate movement being "lower" in the past 5 days, it would also make sense to worry that Powell might say something to derail that momentum.  But the fact is that the bigger picture momentum remains mostly dependent on what the economy does.  The Fed's policy response to the economic data is on a fairly tight leash (i.e. their conditions for cutting/holding/hiking are well understood by markets).  With that in mind, today's only big ticket report is JOLTS at 10am ET.  The ADP data out earlier this morning did no damage, nor would we have expected that based on the 140k vs 150k result.