Rates faced upward pressure Friday as China again raised required reserve levels for banks in an effort to fight inflation. Investors have also expressed concern over the recent uptick in inflation data in the US. Yesterday the government reported a 0.4% rise in the Consumer Price Index (CPI) in January, the same rate as in December. The CPI has risen at an annual rate of 3.9% over the past quarter. Next week the Treasury will hold large auctions of 2-, 5-, and 7-year notes over three days, beginning on Tuesday. January Existing Homes Sales will be released on Wednesday, New Home Sales on Thursday. No key economic data will be released today.