Daily Market Update 4/13/16

Rates inched higher Wednesday as stronger than expected Chinese economic data outweighed weaker than expected U.S. data.  Chinese exports surpassed expectations, causing a global rally in stocks.  In the U.S., March Retail Sales fell 0.2%, below the consensus forecast for an increase of 0.1%.  Separately, the Producer Price Index (PPI) fell 0.1%.  An increase of 0.3% had been expected.  Core PPI, which excludes volatile food and energy components, also fell by 0.1%, below expectations.  Results from today’s 10-year Treasury auction will be released at 1:00 PM.  The Fed’s Beige Book, a survey of economic activity by the 12 Regional Federal Reserve Banks, will be released at 2:00.

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