Daily Market Update 7/16/08

Rates inched higher Wednesday as June’s Consumer Price Index rose at a greater than expected 5.0% annual rate. Industrial Production for June also exceeded forecast, applying additional pressure on interest rates. Stocks and the dollar moved higher. Oil prices continued falling to about $135 a barrel from $146 on Monday. Minutes from the June 25 Fed meeting will be released at 2:00 PM et.

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