Daily Market Update 2/12/10

Rates moved lower Friday following a surprise announcement that China raised reserve requirements for banks in an effort to slow economic growth. This likely means that China will buy fewer exports from other countries, causing a ripple effect globally. In economic news, January Retail Sales rose 0.5%, in line with expectations. Consumer Sentiment unexpectedly declined last month. Stocks moved sharply lower. Next week, Industrial Production and minutes from last month’s FOMC meeting will be released on Wednesday, the Producer Price Index (PPI) on Thursday, and the Consumer Price Index (CPI) on Friday. No other data will be released today.

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