Daily Market Update 7/14/17

Rates inched lower Friday as weaker than expected economic data boosted mortgage-backed securities.  This morning, June Retail Sales fell 0.2%, below the consensus for an increase of 0.1%.  Excluding the volatile auto component, Retail Sales also fell 0.2%, well below forecast.  The June Consumer Price Index (CPI) was unchanged from May.  An increase of 0.1% had been expected.  Consumer Sentiment declined to 93.1, falling short of expectations.  No other key data will be released today.

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