The bond market is currently experiencing selling pressure which, due to light trading, is having a fairly significant impact on bond prices (bond prices deteriorating and rates/yields increasing).  The selling has been caused by a speech made by Fed Chairman Bernanke that created more stir than he probably had anticipated.  In the speech he was comparing current inflation trends to those of prior historical periods with very high inflation.  Bond traders grabbed onto his statements about inflation running at higher levels than the Fed is comfortable with and hit their "sell" buttons.  His actual comments though taken in their entirety did not seem to indicate a change of policy in terms of imminent Fed rate hikes to combat inflation.  A short article about the speech can be found at this link http://www.cnbc.com/id/24971551 .