Daily Market Update 7/22/11

Mortgage rates held steady Friday as investors focused mainly on debt ceiling talks.  No key economic data will be released today.  Next week, Durable Goods Orders and the Beige Book, a survey of the Fed’s 12 regional banks, will come out on Wednesday.  Advanced second quarter GDP estimates will be released on Friday.  The Treasury will hold auctions of 2-, 5-, and 7-year notes over three days, beginning Tuesday.  Debt limit negotiations are likely to overshadow daily economic news as the August 2 deadline draws near.

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