Daily Market Update 6/18/09

Mortgage rates inched higher Thursday on stronger than expected economic data. Leading Indicators rose 1.2% in May, following a 1.0% increase in April. Weekly Jobless Claims came in close to consensus, while continuing Jobless Claims declined for the first time in twenty weeks. It appears that the pace of job losses has stabilized, but growth in new job creation has been slow to develop. The Treasury will announce the size of next week’s 2-, 5-, and 7-year note auctions later today.

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