There’s a decent amount of economic news slated to be released today; Initial Jobless Claims, PPI (March), and Existing Home Sales (March). Initial Claims were expected to be lower at 450k after unexpectedly increasing in the previous report to 484k. The actual number came in slightly worse than expected at 456k, but still lower than last week. PPI is projected at +0.4% from -0.6% in February with the core holding unchanged at +0.1%. Existing Home Sales are expected to be higher, going from 5.02 million to 5.28 million due to the end of the tax credit. At 11 a.m. the Treasury will announce details of next week’s auctions of 2′s, 5′s, and 7′s, which are estimated at $118 billion.
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