Daily Market Update 1/17/13

Rates inched higher Thursday as stronger than expected economic data boosted stocks and hurt mortgage-backed securities.  This morning, weekly Jobless Claims fell to 335,000, far below forecast, to the lowest level in five years.  December Housing Starts jumped 12% to 954,000 annual units, easily beating expectations.  The Philadelphia Fed index, a survey of manufacturers in the region, declined unexpectedly to -5.8.  Readings below zero indicate contraction in the manufacturing sector.  No other key data will be released today.

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