If there were any remaining doubts regarding the relevance of Durable Goods as a big ticket market mover, they are put to rest by the absence of a discernible reaction despite a very big beat. In other words, +0.7 vs -0.8 is significant, but the market movement has been nil. Granted, the negative revision to last month was even bigger, but markets always prefer the most recent data--especially when we're actively waiting for the first sign of some sort of big, fundamental shift in inflation and growth. 

Unless another threat emerges to drive selling pressure, we have a good chance of fulfilling the 11-day weekend prophecy (a grossly hyperbolic way to refer to a 4.34-4.50 trading range in 10yr yields this week).