Daily Market Update 10/27/11

Rates moved higher Thursday as European leaders announced a comprehensive aid package that eased investors’ concerns.  Stocks rallied, hurting bonds and mortgage-backed securities.  In economic news, weekly Jobless Claims fell to 402,000, close to expectations.  Preliminary third quarter GDP figures reported growth of 2.5%, matching forecast.  September Pending Home Sales declined by 4.6%, much more than expected.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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