Wednesday's session saw the only meaningful movement of the past two weeks.  Now Thursday is pushing back modestly, thus keeping the sleepy, year-end vibes intact.  What are sleepy, year-end vibes?  In the second half of December, we tend to see less volume, less liquidity, and less correlation between economic data and market movement.  Lower volatility isn't necessarily a part of year-end vibes, but it is a higher probability bet.  With this morning's economic data out of the way, the only scheduled event with any hope of causing a response in bonds is the 7yr Treasury auction at 1pm.  Even if it causes a reaction, it's likely impossible that the reaction would be extreme.