Daily Market Update 1/5/11

Rates moved higher Wednesday on stronger than expected economic data. This morning, private payroll firm ADP forecast 300,000 private sector job gains in December, causing investors to raise their expectations for this Friday’s Employment Report. Separately, the Institute for Supply Management services index reading came in at 57.1, indicating the fastest pace of growth in the services sector of the economy since May 2006. Stocks moved higher. No other data will be released today.

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