Bond Yields Moving Lower Still

The market is trading slightly higher in early trading. Biotech is still trading down, but most other sectors are getting a bit of a bounce.

Bond yields are moving lower again this morning, with the 10-year yield falling to 4.60%. More inversion. No rate hikes. Oil is trading down a bit, but still north of $60. The dollar is also lower again today.

I don't expect a lot of fireworks today, ahead of the weekend. Volume will likely come in lighter than yesterday's heavy levels. And I expect the markets to close mixed to slightly lower.

In other news and notes:

• PTR profiled in BusinessWeek
• IEA predicts tighter oil markets in Q4
• HANS removed from Conviction List at Goldman
• KSS beats estimates; stock lower
• URBN gets more upgrades, target raises
• AmTech raises RIMM target to $160
• CVS removed from Focus 1 list at Merrill
• TNOX to be acquired by DNA
• How bad is The O.C. this year?

long GS, URBN