Yesterday when crossed a "zone" around 99-26 as we rallied off the lows of the day, we created a resistance point. We bounced there an hour later and the same resistance point has held relatively firm this morning, halting the sell-off. In fact, it appears to be as bouncy as a hyperactive kid on a trampoline holding a check from Fuld... The 5.5 is still down 8 ticks at 100-02+.

If you hadn't locked earlier in the week, we're feeling floaty, reassessing at the end of the day. If we see cause to lock between now and then, we'll let you know.