After an exceptionally busy week last week and with very little on the calendar of scheduled events, this is an understandably slow week for bond markets.  As far as market movers are concerned, all we have on the schedule are the Treasury auctions, starting with today's 3yr, and Wednesday's FOMC Minutes.

That has placed the heavy lifting burden on non-calendar market movers, like the stock lever and the technical framework.  With respect to techs, 10yr yields continue to operate CLOSE to a very important trend line leading up from the lows of the year.  There is plenty of momentum for this to happen, but if it doesn't happen soon, it would be fairly ominous--forcing us to ask "that's it then?"