Daily Market Update 8/20/09

Mortgage rates held steady Thursday following the release of mixed economic data. Weekly Jobless Claims rose unexpectedly to 576,000, above the consensus forecast of 550,000. Leading indicators rose 0.6%, close to expectations. The Philly Fed index, which measures manufacturing growth in the Philadelphia region, showed expansion for the first time this year. Most analysts had anticipated a decline. The Treasury will announce its funding needs for the next two quarters at 11:00 AM. Investors will be watching closely, as an increased supply of debt may pressure interest rates.

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