Daily Market Update 5/13/16

Rates held steady Friday despite stronger than expected economic data.  This morning, April Retail Sales rose 1.3%, above the consensus forecast of 0.9%.  Excluding the volatile auto component, sales increased 0.8%, also beating expectations for a gain of 0.5%.  The April Producer Price Index (PPI) rose 0.2%, a bit less than expected.  Core PPI, which excludes volatile food and energy components, increased 0.1% in April and was a tame 0.9% higher than one year ago.  Consumer Sentiment jumped to 95.8, well above expectations.  No other key data will be released today.

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