Daily Market Update 2/4/10

Rates moved lower Thursday as weekly Jobless Claims rose to 480,000, above forecast. This was the fourth increase in the last five weeks. Fourth quarter Productivity was revised lower to +6.2%, close to expectations. Factory Orders rose 1% in January. Freddie Mac reported average 30-year fixed rates of 5.01% with 0.7 points last week. Stocks moved sharply lower, the dollar higher. The closely-watched Employment Report for January will be released tomorrow at 8:30 AM.

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