Daily Market Update 8/26/14

Rates were little changed Tuesday despite the release of stronger than expected economic data.  July Durable Goods Orders jumped a record 22.6%, far exceeding the consensus forecast of 7.5%.  The surge was primarily due to a large increase in aircraft orders however, which tend to be extremely volatile month-to-month.  Excluding the transportation component, Durable Orders decreased slightly from June.  Consumer Confidence rose unexpectedly to 92.4 from 90.9.  Results from today’s 2-year Treasury auction will be released at 1:00 PM.

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