Rates inched lower following the release of weaker than expected economic data. Weekly Jobless Claims jumped to 344,000, above the consensus forecast of 320,000. The Core PCE price index, the Fed’s preferred measure of inflation, rose 0.2%, matching expectations. Personal Income increased 0.5%, a bit higher than expected. Construction Spending rose 0.2%, well below forecast. No other key data will be released today. The Employment Report for April will be released tomorrow at 8:30 AM.