Daily Market Update 11/24/09

Rates inched lower Tuesday following a downward revision of third quarter GDP. The economy grew at a 2.8% rate last quarter, down from earlier estimates of 3.5%. Stronger than average demand for this afternoon’s 5-year Treasury auction helped lift mortgage-backed securities markets. Minutes from the November 4th Fed meeting revealed upwardly revised forecasts for economic growth, but a widely held view that unemployment will remain high for several years. Tomorrow, five economic reports will be released ahead of the Thanksgiving holiday.

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