Daily Market Update 9/1/11

Rates held steady Thursday in another day of volatile trading.  In economic news, weekly Jobless Claims fell to 409,000, close to forecast.  Second quarter Productivity declined by 0.7%, a bit lower than expected.  Construction Spending fell 1.3% in July, below expectations.  The Institute for Supply Management manufacturing index came in at 50.6.  Readings above 50.0 indicate expansion in the manufacturing sector of the economy.  No other key data will be released today.

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