Daily Market Update 10/25/13

Rates were little changed Friday as mortgage-backed securities recovered from yesterday’s late losses.  In economic news, September Durable Goods Orders rose by 3.7%, a bit below forecast.  Excluding volatile transportation orders, Durable Orders decreased slightly.  Consumer Sentiment fell to 73.2, below expectations, to a 10-month low.  Stocks moved modestly higher.  No other key data will be released today.  Next week may be volatile.  The big event will be the two-day Fed meeting to discuss monetary policy beginning on Tuesday.  The Fed will issue a statement Wednesday afternoon.  Also next week, Retail Sales figures and the Producer Price Index come out on Tuesday, the Consumer Price Index and the ADP Employment report on Wednesday, and the Institute for Supply Management manufacturing index on Friday.  Have a great weekend!

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