Daily Market Update 2/7/14

Rates held steady Friday following the release of weaker than expected employment data.  This morning, the government reported that 113,000 jobs were created in January, well below forecast.  The survey used to calculate the Unemployment Rate indicated greater strength than the payrolls data, as the Unemployment Rate declined to 6.6% despite an increase in the labor force.  Mortgage-backed securities initially rallied on the news, but quickly gave back early gains as investors raised questions about the impact of bad weather on the data.  Average Hourly Earning matched expectations.  Stocks moved higher.  Have a great weekend!

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