Rates were little changed Thursday following the release of mixed economic data. First quarter GDP was revised lower, showing the economy contracted by 1.0% during the period. Most of the decline was due to a drop in inventories. Unusually severe weather was also a factor, and second quarter GDP is expected to be much better. Weekly Jobless Claims fell to 300,000, below the consensus forecast of 320,000. Pending Home Sales rose by 0.4% in April, below expectations. Nationally, Pending Home Sales were down 9.2% compared to April 2013. Results from today’s 7-year Treasury auction will be released at 1:00 PM.