Daily Market Update 10/3/14

Rates inched higher Friday in volatile trading following the release of stronger than expected employment data.  The economy added 248,000 jobs last month, well above forecast.  The Unemployment Rate fell to 5.9% from 6.1%, to the lowest level since July 2008.  Average Hourly Earnings were unchanged, falling short of expectations.  Separately, the Trade Deficit fell to -$40.1 billion, close to forecast.  The Institute for Supply Management services index came in at 58.6, a bit higher than expected.  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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