Daily Market Update 6/23/15

Rates moved higher Tuesday on increased optimism about a Greek debt deal and hawkish comments from a Fed official.  This morning, Federal Reserve Governor Jerome Powell espressed support for a Federal Funds rate hike in September and a second increase by year end.  Powell is a voting member of the policy setting committee.  In economic news, May Durable Goods Orders fell 1.8%, far below the consensus forecast for a decline of 0.5%.  New Home Sales rose unexpectedly to 546,000 annual units, a 7-year high.  Results from today’s 2-year Treasury auction will be released at 1:00 PM.

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