Bonds improved modestly overnight as the 2.85+ ceiling (10yr yields) provided support for  the 4th straight day.  The start of the domestic session brought additional gains, but bonds bounced at 2.83% and inched up to 2.84% by 9:30am.  After the 9:30am NYSE open, stocks and bond yields have moved lower together, with 10's now down under 2.83%.

Note: we have to zoom in to a very narrow frame of reference in order to see the correlations in the chart above.  S&P futures are currently trading around 2660 and they were under 2600 at their weakest levels yesterday.

Fannie 3.5 MBS are up an eighth of a point at 99-27 (99.84).  

Consumer Confidence is coming up in just a few minutes.  So far, it's only been the various starting gates of markets' opening bells that have caused any reaction in bonds.