First Quarter earnings season has gotten off to a rocky start as aluminum company Alcoa, and chip makers Advanced Micro Devices and Novellus Systems reported weak earnings. This has sent a bit of a negative tone over the stock market this morning, which has kept bonds fairly favorable. The bad news for bonds could be that the minutes from the last FED meeting, where two members did not vote for a rate cut, will be released today. Traders are afraid that the detail of those comments made, could show inflation concerns and hurt bonds.
Bonds have attempted to make rallies higher in the past week, but it seems that every time they are close to making a good run, they are stopped in their tracks by the volatility in the markets.
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