Daily Market Update 1/12/12

Rates moved lower Thursday reflecting improvement in mortgage-backed securities prices late Wednesday.  In economic news, Retail Sales rose 0.1% in December, well below forecast.  Excluding autos, Retail Sales fell 0.2%, the first monthly decline since May 2010.  Weekly Jobless Claims rose to 399,000, above the consensus of 375,000.  The European Central Bank (ECB) made no change in rates, as expected.  Stocks moved lower.  Results from today’s 30-year Treasury auction will be released at 1:00 PM.

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