Daily Market Update

Rates inched higher Thursday reflecting yesterday’s late selloff of mortgage-backed securities.  In economic news, The European Central Bank (ECB) made no changes in rates or other stimulus programs, disappointing some investors.  ECB President Draghi said the ECB is ready to add stimulus measures as needed to ensure that the inflation rate rises to its target level.  In the U.S., weekly Jobless Claims fell unexpectedly to 247,000, below the consensus forecast of 265,000, to the lowest level since 1973.  The Philly Fed regional manufacturing index declined to -1.6, well below expectations.  Readings below zero indicate contraction in manufacturing in the Philadelphia region.  No other key data will be released today.

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