Daily Market Update 3/14/14

Rates moved lower Friday reflecting yesterday’s late rally in mortgage-backed securities.  In economic news, the Producer Price Index (PPI) fell 0.1% in February, below the consensus forecast of +0.2%, and was just 0.9% higher than one year ago.  Core PPI, which excludes volatile food and energy components, declined 0.2%.  An increase of 0.1% had been expected.  Consumer Sentiment fell to 79.9, below expectations.  No other key data will be released today.

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