Yesterday after starting at break even, bonds deteriorated during the day.  The 10 Yr US Treasury which had moved below 3.0% the prior day moved back to that level.  This morning bonds are slightly improved.  At this point analysts are viewing trading activity simply as profit taking and technical movements.  There is really no economic data driving movements one way or the other this week.  The pressure will really be heating up for politicians in Washington to look like they are doing something given that most analysts believe it to be highly unlikely that the Federal Reserve will engage in any further monetary easing.  Inflation levels for food and energy are so high now that they cannot be ignored by focusing on the "core" rate of inflation.