Rates inched higher Thursday in volatile trading following the release of stronger than expected economic data. This morning, weekly Jobless Claims fell to 236,000, below the consensus forecast of 245,000. The April Producer Price Index (PPI) rose 0.5%, well above expectations, and was 2.5% higher than one year ago. Core PPI, which excludes volatile food and energy components, was 1.9% higher year-over-year, up from 1.6% last month. Stocks moved lower. Results from today’s 30-year Treasury auction will be released at 1:00 PM.