The bond market is down this morning due primarily to selling momentum tat is carrying over from yesterday.  In economic news jobless claims for the week ended 7/12 came in better than expected with new claims only at 18,000 instead of the projected 34,000.  Housing start overall were up but that was due to change in data collection procedures for New York City multifamily permits.  Stripping out multi family starts in the Northeast,  housing starts were down 4% vs a projected 2%.