Daily Market Update 11/5/12

Mortgage rates inched lower Monday ahead of tomorrow’s election.  Although the polls indicate a statistical dead heat, investors appear to be positioning themselves for an Obama victory and a divided Congress, an outcome which is seen as positive for bonds.  Stocks moved lower.  In economic news, the Institute for Supply Management services index fell to 54.2, a bit lower than expected.  No other key data will be released today.

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