Rates inched higher Tuesday as a rally in stocks hurt mortgage-backed securities. This morning, Consumer Confidence rose to 121.1, well above expectations. 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. No rate changes are expected but investors will be looking for clues about the timing of future rate increases and the reduction of asset holdings that had been acquired to stimulate the economy following the financial crisis. Results from today’s 2-year Treasury auction will be released at 1:00 PM.