Limited Calendar Promotes Volatility in a Range

With the week's only top tier economic release hitting on Monday morning, the path of least resistance for the rest of the week is a choppy, sideways range with the expectation of a breakout surrounding CPI/Fed next Tue/Wed.  In not so many words, if it's happening between the white lines, it's not that interesting:

As for today, bonds started out just barely stronger  but have moved into modestly weaker territory.  European bonds and corporate issuance are causing headwinds.