Daily Market Update 9/6/12

Rates faced upward pressure Thursday on stronger than expected economic data and news of a plan by the European Central Bank (ECB) to purchase short-term debt from troubled European nations.  The new program, labeled “Monetary Outright Transactions” or MOT, will be “unlimited” in size, but will have conditions attached for countries that receive aid.  In economic news, payrolls firm ADP estimated an increase of 201,000 private sector jobs in August, well above forecast.  Weekly Jobless Claims fell to 365,000, a little lower than expected.  Stocks moved higher.  No other key data will be released today.

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