Daily Market Update 12/4/09

Rates moved higher Friday following a much stronger than expected Employment Report. The economy lost 11,000 jobs in November, far less than the consensus forecast of -125,000, and the smallest monthly loss in two years. The Unemployment Rate dipped to 10% from 10.2% in October. Average Hourly Earnings, a proxy for wage growth, rose slightly. Stocks rallied on the report. Next week will be light in terms of new economic data with the exception of Friday’s report on November Retail Sales. No other data will be released today.

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