Strong earnings reports form Alcoa and CSX are moving the U.S. stock markets sharply higher this morning. As one would expect with investors piling into stocks bond prices are falling with the yield on the 10 year note rising to 3.10%. Mortgage prices are approximately .25% worse than Monday.
Later today the U.S. Treasury will auction $21 billion of 10 year notes this afternoon, and Intel is among the companies reporting earnings after the stock market close.
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