European debt auctions, earnings reports, Fed messages and a smattering of data have landed the 10 year Note future virtually unchanged on the week. The close today is important to us as the up/down week has now been crossed 6 times. Negating a weekly down (new high then lower on week) is a more powerful signal as positions would need to be re-established into Monday. We wanted to see the Yen weaker to the dollar (futures base) as this rates move unfolded. The concept of buying 200B-400B in MBS re-boots some volatility into the complex through the data next week. Not a quake, just a wiggle, so far.