Rates inched lower Thursday as newly released economic data came in close to expectations. This morning, the European Central Bank made no policy changes. In the U.S., March Durable Goods Orders rose 0.7%, below the consensus forecast of 1.2%, but February results were revised higher. Weekly Jobless Claims rose to 257,000, a bit higher than expected. March Pending Home Sales fell 0.8%, slightly below forecast. Results from today’s 7-year Treasury auction will be released at 1:00 PM.