Daily Market Update 6/15/17

Rates faced upward pressure Thursday as mortgage-backed securities gave back most of yesterday’s gains.  Newly released economic data came in close to expectations.  Yesterday, the Fed raised short term interest rates by 0.25%, as expected.  The Fed provided more details about its plan to begin reducing holdings of U.S. Treasuries and mortgage-backed securities later this year.  Reduced demand by the Fed for mortgage-backed securities may result in upward pressure on rates in the coming months.  No other key data will be released today.

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