Daily Market Update 4/27/12

Rates were little changed Friday.  In economic news, preliminary first quarter GDP figures indicated the economy grew at a 2.2% annual rate, below the consensus forecast of 2.5%.  Consumer Sentiment came in at 76.4, slightly better than expected.  In Europe, ratings agency S&P downgraded the debt of Spain.  Rates may be volatile next week, as several key economic indicators are scheduled for release.  On Monday, the Core PCE price index, the Fed’s preferred measure of inflation, will be released.  The Institute for Supply Management manufacturing index will come out on Tuesday, and the month’s most closely watched data, the Employment Report, will be released on Friday.  Have a great weekend!

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