It's been an uninspired, insipid day of trading. We are biding time for the next big report.

That initial flight to quality bid on the back of softer overseas equity markets has been present all day.

The results were impressive to say the least. The outlook for consumer spending is a bit brighter than it was a week or so ago.

There's no question Thursday and Friday's numbers could be a catalyst for a substantial move in the Treasury market.

We think the economy is in recession, and it looks like October is going to be weaker than September.

The Treasury market likes the headline because it was weaker than what it thought.