Daily Market Update 2/5/13

Rates inched higher Tuesday as extreme market volatility continued.  In a reversal of yesterday’s activity, investors moved back into stocks, hurting bonds and mortgage-backed securities.  Stronger than expected economic data in Europe was the primary influence.  In the U.S., the Institute for Supply Management services index came in at 55.2, slightly higher than forecast.  Readings above 50.0 indicate expansion in the services sector of the economy.  No other key data will be released today.

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