Daily Market Update 8/15/08

Rates held steady Friday, having shown little movement for the week. July Industrial Production rose 0.2%, higher than expected. Oil prices continued their downward trend, reaching $111 pb, a 24% reduction from their July peak. The dollar strengthened against the euro and is now up 8% from its low last month. Stocks were mixed. The next major economic report due out is the Producer Price Index, scheduled for release Tuesday. Traders will be watching closely for signs of rising inflation.

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