Daily Market Update 7/20/12

Rates inched lower Friday as concerns about Spain hurt stocks and boosted Treasurys and mortgage-backed securities.  Protests against austerity measures escalated, and Spanish 10-year bond yields climbed above 7%.  No key economic data will be released today.  Next week, New Home Sales figures will come out on Wednesday.  Durable Goods Orders will be released on Thursday.  Also, the Treasury will auction 2-, 5-, and 7-year notes over three days, beginning Tuesday.