Daily Market Update 6/8/12

Mortgage rates inched lower Friday following a late rally in mortgage-backed securities on Thursday.  In economic news, the May Trade Balance declined slightly to $50.1 billion, in line with expectations.  Next week, the Producer Price Index and Retail Sales figures will be released on Wednesday, the Consumer Price Index on Thursday, and Industrial Production on Friday.  Also next week, the Treasury will hold auctions of 3-, 10-, and 30-year notes over three days, beginning Tuesday.  No other key data will be released today.