Daily Market Update 3/3/10

Rates held steady Wednesday. In economic news, the Institute for Supply Management services index rose to 53.0, beating expectations. Readings above 50.0 indicate expansion in the services sector of the economy. The private payroll firm ADP estimated a net loss of 20,000 jobs last month, in line with forecast. This afternoon the Fed will release its Beige Book, a survey of economic activity by the Fed’s regional banks, at 2:00 PM.

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