Daily Market Update 1/27/09

Mortgage-backed securities and Treasury rates moved modestly lower Tuesday as the Conference Board reported Consumer Confidence fell more than expected in January. The decline was attributed to the worsening labor market. Stocks edged higher on growing prospects for a new government economic stimulus package. The remainder of the week may be extremely volatile with several key announcements scheduled. Tomorrow the Fed wraps up their periodic Federal Open Market Committee meeting to determine monetary policy, Durable Goods Orders will be released Thursday, and fourth quarter Gross Domestic Product and the Chicago Purchasing Manager’s Index are due out Friday.

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