Daily Market Update 4/2/10

Rates came under pressure Friday following release of the March Non-farm Payrolls report. The economy added 162,000 jobs last month, the highest level in three years. The Unemployment Rate remained at 9.7%. Hiring of temporary census workers added 48,000 jobs, less than expected. Upward revisions to data from prior months added 62,000 jobs. Average Hourly Earnings, a proxy for wage growth, declined slightly. Mortgage-backed securities markets will close early at 12:00 noon for Good Friday.

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