Daily Market Update 7/26/16

Rates were little changed Tuesday as the Fed began its two-day Federal Open Market Committee meeting to discuss monetary policy.  A policy statement will be released tomorrow at 2:00 PM.  In economic news, June New Home Sales rose 3.5% to 592,000 annual units, well above expectations, to the highest level since February 2008.  Consumer Confidence slipped to 97.3, beating forecast.  Results from today’s 5-year Treasury auction will be released at 1:00 PM.

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