Daily Market Update 2/11/16

Rates moved lower Thursday as the downward movement in stocks boosted bonds and mortgage-backed securities.  In economic news, weekly Jobless Claims fell to 269,000, below the consensus forecast of 280,000.  Fed Chair Janet Yellen will testify for a second day before Congress.  Yesterday Yellen said the downside risks to the U.S. economic outlook have increased.  She added that inflation may take longer to reach Fed target levels, suggesting a rate hike at next month’s Fed meeting is unlikely.  Results from today’s 30-year Treasury auction will be released at 1:00 PM.

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