Daily Market Update 6/13/14

Mortgage rates inched higher Friday despite lower than expected inflation data.  The May Producer Price Index (PPI) fell 0.2%, below the consensus forecast for an increase of 0.1%.  Core PPI, which excludes volatile food and energy components, decreased 0.1% and was 2.0% higher than one year ago.  Consumer Sentiment fell in June to 81.2.  A reading of 83.0 was expected.  The big economic news next week will be the two-day meeting of the Fed to discuss monetary policy, beginning Tuesday.  The Fed will issue a statement and hold a press conference Wednesday afternoon.  No other key data will be released today.

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