Daily Market Update 1/31/17

Rates held steady Tuesday as stocks moved lower.  In economic news, the Chicago Purchasing Managers Index fell sharply to 50.3, well below expectations.  Readings above 50.0 indicate expansion in manufacturing in the Midwest Region.  Consumer Confidence slipped to 111.8, close to forecast.  The S&P/Case-Shiller 20-city home price index reported average home prices rose by 5.6% in November from one year earlier, a bit higher than expected.  No other key data will be released today.

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