Daily Market Update 7/10/14

Rates inched lower Thursday as concerns about Europe hurt stocks and boosted mortgage-backed securities.  Fears about the stability of the banking system in Portugal and weak economic data from Italy resulted in a flight to safety for investors, lifting bonds and gold.  Increased violence in Israel and Gaza also appeared to be a factor.  In economic news, weekly Jobless Claims fell to 304,000, below the consensus forecast of 315,000.  Results from today’s 30-year Treasury auction will be released at 1:00 PM.

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