Daily Market Update 10/25/17

Rates moved higher Wednesday as the global trend toward higher bond yields continued.  In economic news, Durable Goods Orders rose 2.2%, well above the consensus forecast of 1.0%.  New Home Sales jumped 18.9% in September, easily beating estimates for a slight decline.  Results from today’s 5-year Treasury auction will be released at 1:00 PM.  Tomorrow, the European Central Bank is expected to announce future plans for its bond purchase program, which could have a significant affect on rates in the U.S.  President Trump plans to announce his choice for Fed Chair as early as next week.  Current Fed Chairwoman Janet Yellen’s term expires in February.  Interest rates are likely to remain volatile over the next several days.

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