Daily Market Update 2/15/12

Rates held steady Wednesday following the release of mixed economic data.  The Empire State index came in much higher than expected, while Industrial Production was flat in January.  Minutes from last month’s FOMC meeting of the Fed will be released at 2:00 PM.  Congress appears to have reached an agreement on the extension of the payroll tax cut and unemployment benefits through year-end.  The deal will increase the annual federal budget deficit by an estimated $100 million for 2012.

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