Daily Market Update 5/20/08

Rates inched lower Tuesday morning as stocks tumbled. The Dow Jones Industrial Average is currently down nearly 200 points on the day. April’s Producer Price Index rose a less than expected 0.2%, but this was largely offset by a greater than expected 0.4% increase in the “Core” PPI. The Core PPI excludes volatile food and energy prices. Meanwhile, crude oil prices topped $128 per barrel, setting another new record.

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