Friday’s bond market initially opened in positive territory, recovering some of yesterday’s heavy losses, but has since slipped from morning highs. Stocks are extending their gains, pushing the Dow higher by 120 points and the Nasdaq up 46 points. The bond market is currently up 4/32 (1.88%), which should help recoup the intraday upward revision in rates late yesterday afternoon. This morning’s rates should be approximately .125 of a discount point worse than Thursday’s early pricing.