Daily Market Update 8/16/12

Rates stabilized Thursday after hitting their highest levels in three months yesterday.  In economic news, weekly Jobless Claims rose to 366,000, in line with expectations.  July Housing Starts declined by 1% to an annual rate of 746,000, below forecast, although Building Permits increased by 6% to the highest level in four years.  The Philly Fed index, a survey of manufacturers in the Philadelphia region, came in at -7.1, lower than expected.  Readings below zero indicate contraction.  No other key data will be released today.

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