Is it all over?

That's the question bond traders are asking themselves today. After all, Treasury futures prices reversed off their lows and finished up nicely. The reversal also occurred right around the area of technical support I highlighted a little while back -- the low-105s.

But wasn't it just three sessions ago that we had our last supposed "key reversal?" And aren't we getting key inflation data tomorrow (Producer Price Index) and Friday (Consumer Price Index) -- data that could show inflation pressures have picked back up?

In other words, it's awfully tough to just declare "That's that." Instead, I believe the risk is for more downside in prices and more upside in yields, short-term corrections notwithstanding. Of course, you know what they say about opinions ...