Daily Market Update 2/12/15

Rates inched lower Thursday following the release of weaker than expected economic data.  This morning, weekly Jobless Claims jumped to 304,000, well above the consensus forecast of 290,000.  Separately, January Retail Sales declined by 0.8%, below expectations.  Excluding gas sales, which were lower due to falling prices, Retail Sales were positive, but still much lower than expected.  Economists had predicted that consumers would use more of their savings from lower gas prices to purchase other items.  In foreign news, Russia and Ukraine agreed to a cease-fire set to begin February 15.  Yesterday’s meeting between Greek and Eurozone officials ended with no agreement.  Results from today’s 30-year Treasury auction will be released at 1:00 PM.

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