10yr Breaking Above 4.10% After Overnight weakness

The bond market has already shown an indifference to this week’s econ data as a market mover (even though we expect that to change with tomorrow’s jobs report). This morning, however, the trend continues with stronger jobless claims and a big uptick in labor costs failing to inspire a reaction. But there has been movement. A steady wave of overnight selling pushed 10yr yields more than 3bps higher, easily breaking ab…