Daily Market Update 3/31/17

Rates were little changed Friday as newly released economic data came in close to expectations.  This morning, the February Core PCE price index, the Fed’s preferred measure of inflation, was 1.8% higher than one year ago, matching forecast.  February Personal Income rose 0.4%, in line with expectations.  The Chicago Purchasing Managers Index rose to 57.7, a bit higher than expected.  Readings above 50.0 indicate expansion in manufacturing in the Midwest region.  Consumer Sentiment declined slightly to 96.9, slightly below forecast.  Stocks moved lower.  No other key data will be released today.

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