1. In derivatives trading, two-year, five-year and 10-year T-note futures TUc1 FVc1 TYc1 recorded a series of contract highs.

2. Bond strategists see the 10-year T-Note yield hitting 3.75 percent by the end of the year, up from its current level around 3.44 percent.

3. The June 10-year T-note contract TYM0 closed down 1/32 at 115-29/32, near its technical support of 116.

4. T-note maturities range up to 10 years, whereas bonds on issued with maturities ranging from 10 to 30 years.

5. The 10-year T-note and 30-year Treasury bond are down 8.58 percent and 24 percent, respectively, in terms of price for the year to date.

6. U.S. Treasuries fell further after the comments, pushing up the benchmark 10-year T-note yield more than five basis points to a session high of 3.92 percent.