Daily Market Update 6/1/15

Rates were little changed Monday following the release of mostly positive economic data.  This morning, the April Core PCE price index, the Fed’s preferred measure of inflation, rose 0.1%, below the consensus forecast of 0.2%, and was a tame 1.2% higher than one year ago.  This is well below the Fed’s target rate for inflation of 2.0%.  Personal Income rose 0.4%, a bit higher than expected.  Construction Spending increased by 2.2%, beating estimates.  The Institute for Supply Management manufacturing index rose to 52.8 from 51.5.  Readings above 50.0 indicate expansion in the manufacturing sector.  No other key economic data will be released today.

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