Daily Market Update 6/26/14

Rates were little changed Thursday as mortgage-backed securities recovered from yesterday’s late losses.  In economic news, May Personal Spending rose 0.2%, below the consensus forecast of 0.4%.  The Core PCE price index, the Fed’s preferred measure of inflation, increased 0.2% in May and was a tame 1.5% higher than one year ago.  Weekly Jobless Claims came in at 312,000, close to expectations.  Stocks moved lower.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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