Daily Market Update 8/5/10

Rates were little changed Thursday as mortgage-backed securities recovered from yesterday’s losses on weak labor market data. Weekly Jobless Claims rose to 479,000, a 3-month high, but unusual seasonal adjustments related to the auto sector may have skewed the results. The European Central Bank (ECB) left rates unchanged, as expected. Investors will be closely watching tomorrow’s Non-farm Payrolls report for July. No other data will be released today.

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