Daily Market Update 8/25/08

Rates showed slight improvement Monday as capital moved out of equities and into bonds and mortgage-backed securities. Stocks were sharply lower. Existing Home Sales rose 3.1% in July. The remainder of the week is packed with economic reports that may affect interest rates, beginning with Tuesday’s release of the minutes from the last Federal Open Market Committee (FOMC) meeting, followed by Durable Goods Orders on Wednesday, preliminary second quarter GDP figures Thursday, and the Chicago Purchasing Manager’s Index Friday.

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