Rates moved higher Thursday reflecting yesterday’s sell-off of mortgage-backed securities following the Fed policy statement. As widely expected, the Fed made no change in the Federal Funds rate, but explicitly left the door open to a rate hike at its next meeting in December. Investors perceived the statement to be more indicative of tighter monetary policy than expected. This morning, weekly Jobless Claims were little changed at 260,000, a bit below expectations. The first reading of third quarter GDP showed annual economic growth of 1.5%, slightly below forecast. Pending Home Sales fell 2.3% in September. An increase of 1.0% had been expected. Results from today’s 7-year Treasury auction will be released at 1:00 PM.