Daily Market Update 8/14/08

Rates moved slightly higher following this morning’s release of the Consumer Price Index for July, showing a 5.6% annual rate increase, the highest since 1991. Energy prices have dropped significantly over the past few weeks, however, and future readings will reflect this. Stocks rallied, as investors had feared even higher inflation figures. Weekly jobless claims came in above forecast, at 450K. The dollar was higher against the euro.

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