Tuesday’s bond market initially opened well in positive territory, looking like we would be recovering a big part of yesterday’s heavy sell-off. However, shortly before posting this report, bonds soured and erased hope of seeing that recovery in this morning’s pricing. Stocks are showing early gains with the Dow up 181 points and the Nasdaq up 118 points. The bond market is currently down 6/32 (2.95%), which with yesterday’s afternoon sell-off is going to cause this morning’s rates to be approximately .500 - .625 of a discount point higher than Monday’s early pricing. If you saw an intraday upward revision yesterday, you should see a smaller increase this morning.