Daily Market Update 5/3/10

Rates held steady Monday as mortgage-backed securities gave up gains that occurred late Friday. In economic news, March Personal Income increased 0.3%, matching forecast. Construction Spending rose 0.2%, better than expected. The Institute for Supply Management manufacturing index reading came in at 60.4, close to the consensus forecast. Readings above 50.0 indicate expansion. Stocks moved higher. No other data will be released today.

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