Bonds improved yesterday afternoon on continued concerns about the state of the US and European economies.  Bonds are flat with a slight negative bias this morning.  Yesterday after our market update was published, two additional economic releases were published.  The Conference Board's May Leading Indicators came in up .4% vs expectations for a .5% increase and the June Philadelphia Fed Survey came in with an index value of 8.0 which was much lower than the 20.0 expected.  Stocks managed to close up yesterday despite yesterday's higher unemployment claims numbers.  There is no key economic data being released today.