Daily Market Update 2/16/16

Rates were little changed Tuesday as today’s economic data came in below expectations.  This morning, the Empire State regional manufacturing index fell to -16.6, below the consensus forecast of -10.0.  Readings below zero indicate contraction in manufacturing in the New York region.  Separately, the National Association of Home Builders housing sentiment index fell to 58.  A reading of 60 had been expected.  Readings above 50 indicate more positive than negative builder sentiment.  No other key data will be released today.

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