Daily Market Update 1/28/10

Rates inched higher Thursday in spite of weaker than expected economic data. December Durable Goods Orders increased 0.2%, well below the consensus forecast of +2.0%. Weakness in volatile aircraft orders was responsible for the shortfall. Weekly Jobless Claims declined to 470,000, but was above expectations. The Senate appears ready to vote today on the confirmation of Fed Chairman Ben Bernanke to a second 4-year term. There will be a 7-year Treasury auction at 1:00 PM. Preliminary fourth quarter Gross Domestic Product (GDP) figures will be released tomorrow.

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