The bond market is continuing its decline from Friday, after flirting briefly with lower yields. The 10 year note began trading this morning at 3.28%, however, the positive move lasted briefly, and the yield has now risen to 3.39%.
There is very little economic data on the calendar this week, although we will get news on new housing starts and existing home sales. I expect the remainder of the week the U.S. bond market will focus on earnings and the continued European sovereign debt issues.
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