Bonds are very slightly better this morning on higher than expected Initial Jobless Claims of 424,000 for the week ending 5/21/11.   Analysts had been expecting a 400,000 figure.  Continuing Claims for the week ended 5/14/11 came in slightly lower than expected at 3.690 million vs expectations of a 3.70 million figure.  Separately the second estimate of 1st Qtr GDP in the us was unchanged at 1.8% growth.  Analysts had been expecting a revision up to 2.0%.