Daily Market Update 6/12/08

Rates pushed higher Thursday, reaching their highest levels in over 8 months, on stronger than forecast Retail Sales for May. The unexpected resiliency of the US economy is seen as increasing the likelihood of earlier, more aggressive rate hikes by the Fed to curb inflation. Some analysts attributed the reported 1% increase in sales to the economic stimulus checks currently being distributed by the Treasury. Stocks and the dollar moved higher on the news.

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