The markets don't believe it. 10-year rates are testing recent lows at 3.59% despite a great Greek bond auction, lower jobless claims and other news of economic strength. It just shows that the market DOES NOT BELIEVE THE DATA. Is it all a sham? Do markets relate to news?
With the unemployment number expected to be really bad because of the snow storms. "yes dear, it snowed today so I got laid off!", look for opportunities to short the treasuries. When we finally break through the 4% level on the notes, it's going to be an explosive move.