Rates moved higher Thursday following the release of stronger than expected economic data. Weekly Jobless Claims fell to 514,000, the lowest level since January. The Empire State regional manufacturing index jumped to 34.6, far above the consensus forecast of 17.0, and the highest level since May 2004. The September Consumer Price Index (CPI) rose 0.2%, matching estimates. The CPI was 1.3% lower than one year ago. Mortgage-backed securities prices later improved following the Philadelphia Fed manufacturing index, which dropped more than expected. Favorable repricing may occur.