Rates inched higher Tuesday reflecting a late selloff of mortgage-backed securities on Monday. In economic news, fourth quarter GDP was unchanged from earlier estimates at 1.9% growth, a bit below expectations. The Chicago Purchasing Managers Index jumped to 57.4, well above forecast, to the highest level since December 2014. Readings above 50.0 indicate growth in manufacturing in the Midwest region. Consumer Confidence rose unexpectedly to 114.8, the highest reading since July 2001. Dallas Fed President Robert Kaplan said in an interview with CNBC that the Fed should move “sooner rather than later” to raise interest rates. He also indicated the Fed should delay reduction in the $4.5 trillion holdings of Treasurys and mortgage-backed securities it acquired during quantitative easing until rate increases are “well underway” in order to avoid market disruption. No other key data will be released today. Investors will be watching tonight’s address by President Trump to a joint session of Congress for clues about proposed tax and stimulus policies.