Daily Market Update 10/1/14

Rates inched lower Wednesday as stocks fell sharply, boosting mortgage-backed securities.  In economic news, payrolls firm ADP estimated private sector job growth of 213,000 in September, above the consensus forecast of 200,000.  The Institute for Supply Management manufacturing index fell to 56.6, below expectations.  Readings above 50.0 indicate expansion in the manufacturing sector.  Construction Spending declined by 0.8%.  An increase of 0.5% had been expected.  No other key data will be released today.

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