Is the market open? Then sell bonds ... again.

The red-headed step children of the capital markets -- long-term U.S. bonds -- continue to get beaten mercilessly. Long bond futures were recently down 21/32 in price to 117 31/32. Ten-year Treasury Note yields are up about 1.5 basis points to 3.56%. The dollar, on the other hand, is trying to hold this 80-and-change level, with a gain of abouts 28 bps at last check. It'll be very interesting to see how the 5-year and 7-year note auctions go this week.