Bonds are getting smoked

Bonds are selling off on Tuesday morning.

Near 9:45 am, the yield on the benchmark 10-year note had spiked to yet another year-to-date high of 2.43%.

Yields, which rise when their prices fall, were higher across all durations of US government bonds.

Stocks are lower again after closing down for a third straight session on Monday. Near 9:45 a.m. ET, the Dow was down 27 points, the Nasdaq was down 3 points, and the S&P 500 was down 27 points.

In economic data, the National Federation of Independent Business released its latest small business report, which showed that its small business optimism index rose to 98.3 in May.

The April report on job openings and quits is due at 10:00a.m. ET.

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