Daily Market Update 9/25/12

Rates inched lower Tuesday as increased concerns about Europe boosted mortgage-backed securities.  Political opposition in Germany to aid programs for weaker EU countries, a weak Spanish bond auction, and questions about Greek reforms overshadowed better than expected economic data in the U.S.  This morning, the July Case-Shiller 20-city home price index rose 0.4% from June, and was 1.2% higher than one year ago.  Consumer Confidence jumped to 70.3, well above the consensus forecast of 63.0.  Results from today’s 2-year Treasury auction will be released at 1:00 PM.

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