Initially the benchmark bond was up strongly but after three days of gains this week and some fairly significant sell-off in the stock market the last couple of days, traders decided to keep things in check and the benchmark bond is now down for the day but just 2 basis points - it's 41 basis points off its high and was stable for a while but has recently had a pretty decent sell-off of about 15 basis points or so. The RSI is getting close to oversold again which means with some mixed to bad data tomorrow, we could see some more buying. I'm just hoping that the current late morning sell-off stops and that we can recover to finish the day up - it would be the fourth day in a row.
With no snapshot of the chart today, I'll go right to tomorrow's schedule. The PPI will be the highlight of the morning and we will also get the Michigan Consumer Sentiment Index which has been a bit of a farce with strong sentiment but extremely week retail sales. It's expected to be up a bit over the previous reading. Make it a great day.