Reasonably Resilient After Data-Driven Selling

This morning's Jobless Claims report was the week's most relevant economic report apart from the S&P PMI data that came out just over an hour later.  As it happened, Claims garnered the only obvious response, pushing yields slightly higher in addition to the modest weakness seen in the overnight session. Bonds were able to push back in a friendlier direction at the 9:30am NYSE open--something they've done on 3 out of 4 days this week.  It wasn't quite enough to turn a red day green, but with MBS ending down only 2 ticks (.06), some might say it was close enough for government work.