Market Analysis

The bond market tried to rally yesterday morning past a technical resistence point at 3.8% and failed.  Bonds lost steam during the day and are relatively flat with a slight negative bias this morning. 

In economic news, March's Consumer Price Index (CPI) was up .1% vs expectations of no change, but the core rate, excluding food and energy was unchanged, vs expectations for a .1% increase.  March's Retail Sales were up 1.6% vs expectations for a 1.2% increase and, excluding the Auto segment, were up .6% vs expectations for a .5% increase.