This week, we’ve had our eye on tech companies like Microsoft (NASDAQ:MSFT) announcing better-than-expected earnings. The numbers were good, demand was strong, and the outlook was positive, but investors were worried that inflation would ruin things in the first quarter, so stock prices remained low. When the TNX is moving higher, it shows that traders believe the economy is growing and that the Federal Open Market Committee (FOMC) may need to raise interest rates to keep inflation in check.