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  • CNBC's Rick Santelli discusses the latest action in the bond market, and the eur/yen trade.

  • CNBC's David Faber reports on terms of the deal between MedWestvaco and RockTenn, as well as the merger between reinsurers Axis Capital and PartnerRe.

  • CNBC's Mary Thompson looks ahead at what's moving in early morning trading, including oil services stocks and MeadWestvaco and RockTenn merger. . Also DH Horton is boosting the home builder group, and Microsoft reports earnings after the close.