The first trades of the morning are coming in around the 100-20 range, which is about 5 ticks down from "going out" levels and about 8 ticks down from 3pm closing.

Price levels at this time of day can change quite a bit before the official open. Even then, we normally see a lot of variability between 8am and 9am eastern.

Treasuries are improved a bit with the ten year now down only 18+ ticks.

Stay tuned...