The trend is our friend until it's not our friend, and there's an increasingly high burden of proof on the stock sell-off to arrest its fall.  In other words, stock selling is becoming the baseline rather than a temporary "beginning of the year" anomaly.  As such, bond markets are looking less and less freaked out by every little attempt to bounce on the part of equities markets.

Today's additional strength came courtesy of technical break in S&P futures (1830 in futures, and roughly 1838 in the actual cash S&P index).  This now becomes and important ceiling for stocks.  As you can see, they already attempted to break it just after 11:30.  Bounds were following, but both bounced after stocks failed to break back above the inflection point.

10yr yr yields are up just a tad since I snapped this chart, but still down 10.5bps on the day at 1.951.  Fannie 3.0s are up 18 ticks at 101-21.  In terms of outright levels, the intraday lows in the S&P were the lowest since Feb 2014, and current levels would make for the lowest close since April 2014.