The bond market is down (higher yields/rates) this morning in advance of the Treasury's $19 billion 10 year note auction, with the yield on the 10 Year Treasury note hitting 3.9% in early trading.  Our rate sheets are currently the same as yesterday but we could see deterioration during the day if the market does not reclaim early morning losses.  An opinion article by Arthur Laffer in the Wall Street Journal this morning titled "Get Ready for Inflation and Higher Interest Rates" was highly critical of the Fed's policy to expand the monetary supply.  I believe you should be able to access the article with this link  http://online.wsj.com/article/SB124458888993599879.html .  In today's economic news, the Fed Beige Book for May will be released this afternoon.  This is an assessment of economic conditions in the 12 Federal Reserve districts.  It is expected to show that recessionary pressures are moderating in much of the country.