Daily Market Update 3/5/14

Rates held steady Wednesday following the release of weaker than expected economic data.  This morning, payrolls firm ADP forecast private sector job growth of 139,000 in February, below expectations.  The Institute for Supply Management services index fell to 51.6.  A reading of 53.5 had been expected.  Readings above 50.0 indicate expansion in the services sector or the economy.  The Federal Reserve will release its Beige Book, a survey of economic activity by the 12 regional Fed banks, at 2:00 PM.

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