Daily Market Update 2/16/12

Rates inched higher Thursday following the release of stronger than expected economic data.  Weekly Jobless Claims fell to 348,000, below forecast, to the lowest level since March 2008.  The Producer Price Index rose a tame 0.1%, although the more closely watched “core” rate, which excludes volatile food and energy components, jumped 0.4%.  The Philadelphia Fed manufacturing index came in at 10.2, slightly above expectations, while Housing Starts rose 1.5% to 699,000 annual units, beating the consensus forecast of 670,000.  No other key data will be released today.

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