Daily Market Update 7/31/17

Rates held steady Monday in quiet trading.  This morning, the Chicago Purchasing Managers Index fell to 58.9, below the consensus forecast of 60.0.  Readings above 50.0 indicate expansion in manufacturing in the Midwest region.  Pending Home Sales rose 1.5% in June, slightly above expectations, while the inventory of homes listed for sale fell to its lowest level of the year.  Stocks moved higher.  No other key data will be released today.

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