Daily Market Update 10/26/11

Rates inched higher Wednesday, giving back yesterday’s gains.  Trading remained volatile as investors continued to focus on Europe.  This morning, optimism that European leaders will agree on a comprehensive aid package lifted stocks and hurt mortgage-backed securities.  In economic news, Durable Goods Orders fell by 0.8%, a bit less than expected.  Excluding the transportation component, Durable Orders rose 1.7%, beating forecast.  New Home Sales increased by 5.7% in September to 313,000 annual units.  Unit sales of 300,000 had been expected.  Results from today’s 5-year Treasury auction will be released at 1:00 PM.

Leave a Reply

Your email address will not be published.

Back to top