Daily Market Update 7/16/15

Rates held steady Wednesday as newly released economic data came in close to expectations.  This morning, weekly Jobless Claims fell to 281,000, slightly above forecast.  The Philly Fed index fell to 5.7, a bit lower than expected.  Readings above zero indicate expansion in manufacturing in the Philadelphia region.  The National Association of Home Builders housing sentiment index came in at 60, beating expectations.  Readings above 50 indicate more positive than negative sentiment among home builders.  Fed Chairwoman Janet Yellen delivers her second day of testimony to Congress at 10:00 AM.  No other key data will be released today.

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