Daily Market Update 4/29/16

Rates held steady Friday as stocks moved sharply lower.  In economic news, the March core PCE price index, the Fed’s preferred measure of inflation, rose 0.1%, matching forecast, and was a tame 1.6% higher than one year ago.  March Personal Income increased by 0.4%, slightly more than expected.  The Chicago Purchasing Managers Index fell to 50.4, well below expectations.  Readings above 50.0 indicate expansion in manufacturing in the Midwest region.  Consumer Sentiment fell to 89.0, a bit below forecast.  No other key data will be released today.

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