The big Kahuna: Friday's jobs report

Treasuries are bouncing a bit today in price after 10-year yields tested highs dating back to early 2004. But this looks like nothing more than "noise." Bonds likely won't go much of anywhere before this Friday. That's when we get the big Kahuna ... the March jobs report. The Briefing.com consensus for nonfarm payrolls is a gain of 190,000. The forecast unemployment rate: 4.8%, with average hourly earnings up 0.3%. Any significant deviation above or below those targets could cause a major move in bonds.