Daily Market Update 4/27/10

Rates inched lower Wednesday on news that Greece’s credit rating was cut to junk status by Standard & Poor’s. Stocks fell sharply, lifting mortgage-backed securities markets. Consumer Confidence rose last month to 57.9, far above forecast, marking the highest level since the collapse of Lehman Brothers in September 2008. This afternoon’s Treasury auction of 2-year notes drew average bidding. No other data will be released today.

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