The bond market improved slightly today. despite a stronger than expected Chicago PMI, an index of business conditions in the Chicago area.  Often better economic news can be negative for bonds.  The Chicago PMI came in at 60 vs expectations of 54.9.  Anything over 50 signifies expansion.  In other economic news, the US Treasury's auction of $32 billion in 7 Year Notes was well received by investors with a bid-to-cover ratio of 2.72 ($2.72 in bids per $1 of auction amount).