Daily Market Update 11/18/14

Rates were little changed Tuesday in spite of higher than expected inflation data.  This morning, the October Producer Price Index (PPI) rose 0.2%, well above the consensus forecast for a decrease of 0.1%.  Core PPI, which excludes volatile food and energy components, increased 0.4% and was 1.8% higher than one year ago.  Separately, the National Association of Home Builders Housing Index jumped to 58, beating expectations.  Readings above 50 indicate more positive than negative builder sentiment for the coming six months.  No other key data will be released today.

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