Daily Market Update 12/12/14

Rates inched lower Friday as a sell-off in stocks boosted bonds and mortgage-backed securities.  In economic news, the Producer Price Index (PPI) fell 0.2% last month, below expectations, and was a tame 1.8% higher than one year ago.  Core PPI, which excludes volatile food and energy components, was unchanged.  Consumer Sentiment jumped to 93.8, well above the consensus forecast of 89.5.  Lower gas prices may have been a contributing factor in the larger than expected increase.  No other key data will be released today.

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