Rates were little changed Tuesday despite the release of stronger than expected inflation data. This morning, the October Producer Price Index (PPI) rose 0.4%, above the consensus for an increase of 0.1%. Core PPI, which excludes volatile food and energy components, also rose 0.4% and was 2.4% higher year-over-year. Investors largely shrugged off the data, instead focusing on tomorrow’s Consumer Price Index. Stocks moved sharply lower, which may have helped boost mortgage-backed securities. No other key data will be released today.