Bonds Increasingly Look Like They're Waiting For CPI It wouldn't be the first time and probably won't be the last that the bond market finds itself in a lull during a week that separates the most significant top tier economic data.  Last Friday's NFP swung for the fences (in a bad way for rates), but it's not game over unless next week's CPI proves to be a bash brother.  Between one and the other, it's a great time to hit the concession stand.  This isn't to say exciting things can't happen outside of NFP and CPI-type reports, only that there's nothing on the calendar of scheduled events that demands attention until Tuesday morning at 8:30am ET. Econ Data / EventsJobless Claims218k vs 220k f'cast, 227k prev Market Movement Recap08:20 AM Modestly weaker overnight with losses led by Europe.  MBS down 5 ticks (.16) and 10yr up 2bps at 4.135 10:47 AM modestly weaker drift with MBS now down 7 ticks and 10yr yields up 4bps at 4.154 12:49 PM Very flat through mid morning hours.  MBS down 5 ticks (.16) and 10yr up 4.5bps at 4.16%. 01:08 PM Slightly stronger 30yr bond auction and a decent reaction in Treasuries.  10yr now up only 2.7bps at 4.142.  MBS down an eighth of a point.