Daily Market Update 3/22/13

Rates were little changed Friday as investors remained focused on events in Europe.  This morning the ECB warned that it will cut off emergency funding for banks in Cypress on Monday if no deal is reached.  It now appears possible that Cyprus will leave the European Union.  Next week’s key economic data includes the release of Durable Goods Orders on Tuesday, final fourth quarter GDP figures on Thursday, and Core PCE, the Fed’s preferred measure of inflation, on Friday.  No key data will be released today.

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