Daily Market Update 8/3/10

Rates were little changed Tuesday. In economic news, Pending Home Sales fell 2.6% in June, less than expected. Factory Orders declined for the second straight month by 1.2% against a consensus forecast of -0.5%. June Personal Income and Consumer Spending were flat. Today's Wall Street Journal reported that the Fed is considering a change in policy which would involve purchasing more mortgage-backed securities or Treasury bonds to push yields lower. No other data will be released today.