Bonds are down today and stocks up, with the Dow up 100 pts in early trading to the 9700 level.  The economic calendar is vacant today except for the sale of $39 billion in 3 year notes by the US Treasury.  In global markets, the Reserve Bank of Australia raised its key cash rate .25% to 3.25% and indicated more rate hikes are coming.  Australia has not been hit as badly as other G 20 Economies due to strong exports of commodities to China and a banking system that was not saddled with toxic assets.  Officials there are actually worried about a run up in home prices which they feel is attributed to lower interest rates there.