Daily Market Update 7/30/15

Rates held steady Thursday as newly released economic data came in close to expectations.  Second quarter GDP grew by 2.3%, below the consensus forecast of 2.7%, however first quarter GDP was revised higher to +0.6% from -0.2%.  Taken together, the economy grew by 1.5% in the first half of 2015.  Weekly Jobless Claims rose to 267,000, a bit lower than expected.  Results from today’s 7-year Treasury auction will be released at 1:00 PM.

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