Daily Market Update 6/24/16

Rates moved lower Friday as the UK voted to exit the European Union.  Recent polls had indicated voters would likely choose to remain in the EU, causing many investors to be caught by surprise.  Global stocks fell sharply, along with yields on bonds and mortgage-backed securities.  In other news, May Durable Goods Orders fell 2.2%, below the consensus forecast for a decline of 0.5%.  Consumer Sentiment inched lower to 93.5 from 94.3.  No other key data will be released today.

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