Daily Market Update 3/30/12

Rates were little changed Friday following the release of mixed economic data.  The February Core PCE price index, the Fed’s preferred measure of inflation, rose 0.1%, matching expectations, and was 2.3% higher than one year ago.  The Fed targets a 2.0% inflation level.  Personal Income increased by 0.2%, a bit less than expected.  The Chicago Purchasing Managers Index fell to 62.2, below the consensus forecast of 63.0.  Consumer Sentiment rose to 76.2, beating expectations, to the highest level in more than a year.  Rates may be volatile next week.  The Institute for Supply Management manufacturing index will be released on Monday, minutes from the March FOMC meeting of the Fed will come out on Tuesday, and the most closely-watched economic data of the month, the Employment Report, will be released on Friday.

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