Friday's Data Offers a Chance to Hold The Range

Whereas Thursday's data was clearly bad for bonds/rates (ultimately creating a challenge to the 3.84 range ceiling), Friday's key morning data is relatively inoffensive.  In fact, with Core PCE being in line with expectations, bonds are starting the day by breathing a relative sigh of relief.  If early trading trends hold up, this may be enough for yields to hold the prevailing range despite looking destined to depart yesterday.