Daily Market Update 5/27/11

Rates were little changed Friday in volatile trading.  In economic news, the April Core PCE price index increased at a low 1.0% annual rate, in line with expectations.  Personal Income rose 0.4%, matching the consensus forecast.  Pending Home Sales plunged 11.6% to the lowest level in seven months.  Consumer Sentiment rose to 74.3, slightly higher than expected.  The big economic news next week will be Friday’s release of Non-farm Payrolls and the Unemployment Rate for May.  No other key data will be released today.

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