Daily Market Update 5/9/13

Rates faced upward pressure Thursday following the release of stronger than expected employment data.  Weekly Jobless Claims fell to 323,000, well below the consensus forecast of 335,000, to the lowest level since January 2008.  The reduction in Jobless Claims seen over the past three weeks signals that companies are slowing the pace of layoffs.  Results from today’s 30-year Treasury auction will be released at 1:00 PM.

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