Daily Market Update 7/9/10

Mortgage rates were little changed Friday in quiet trading, as mortgage-backed securities outperformed Treasurys. Rates remain at levels not seen since the 1950’s. Stocks moved modestly higher. No economic data will be released today. Several key economic reports are due out next week, including Retail Sales on Wednesday, the Producer Price Index and Industrial Production on Thursday, and the Consumer Price Index on Friday. Also, the Treasury will be holding large auctions of 3-, 10-, and 30-year securities over three days beginning Monday. Rates may be more volatile in the week ahead.

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