Daily Market Update 6/24/11

Mortgage rates were little changed Friday.  In economic news, May Durable Goods Orders rose 1.9%, beating forecast.  First quarter GDP was revised slightly higher to 1.9% from 1.8%.  Markets showed little reaction to the data.  Stocks moved lower.  Next week will be relatively quiet in terms of new data.  The Core PCE price index, a key measure of inflation, will be released on Monday.  The Treasury will hold auctions of 2-, 5-, and 7-year notes over three days beginning on Tuesday.  The market will close early on Friday for Independence Day weekend.  No other data will be released today.

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