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Daily Market Update 12/10/10

Mortgage rates inched higher Friday on stronger than expected economic data. The Trade Deficit fell to $38.7 billion, below the consensus forecast of -$44.0 billion. Import Prices, excluding oil, rose 0.8%. Consumer Sentiment increased to 74.2, beating expectations. Stocks were mixed. Next week will be busy in terms of new data. The Producer Price Index and Retail Sales figures will come out on Tuesday, the Consumer Price Index and Industrial Production on Wednesday. Also Tuesday, the Fed will hold its periodic FOMC meeting to discuss monetary policy. While no rate changes are expected, investors will be watching closely for clues about the future of the Fed’s “quantitative easing” program. Rates may remain volatile over the next several days. No other key data will be released today.

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