Daily Market Update 6/21/12

Rates were little changed Thursday after mortgage-backed securities rebounded from yesterday's losses.  In economic news, weekly Jobless Claims came in at 387,000, above the forecast of 380,000.  The four-week average rose to the highest level since December.  The Philly Fed index, a survey of manufacturing activity in the region, fell to -16.6, far below expectations.  Readings below zero indicate contraction in the manufacturing sector.  Leading Indicators rose by 0.3%, slightly better than expected, while Existing Home Sales came in at an annual rate of 4.55 million, matching the consensus forecast.  No other key data will be released today.