Rates held steady Thursday in quiet trading. In economic news, weekly Jobless Claims fell to 331,000, in line with expectations. Fourth quarter Productivity rose 3.2%, above the consensus forecast of 2.5%. The December Trade Deficit was higher than expected, but was the smallest annual Deficit since 2009. The European Central Bank made no change in rates. Stocks moved higher. No other key data will be released today. Tomorrow, the closely-watched Employment Report for January will be released at 8:30 AM.