Daily Market Update 4/4/08

Interest rates moved lower on the heals of this morning’s release of the Employment Report. The economy lost 80,000 jobs in March, the worst monthly results in five years. Wages rose at a 3.6% annual rate, in line with expectations. Today’s data shows strong evidence of economic contraction in the First Quarter of 2008, increasing the likelihood of further rate cuts by the Fed in coming months.

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