Daily Market Update 12/5/14

Rates inched higher Friday following the release of the November Employment Report.  The economy added 321,000 jobs last month, the largest gain since January 2012, far exceeding expectations.  Upward revisions to prior months also added 44,000 jobs.  The Unemployment Rate was unchanged at 5.8%, matching forecast.  Average Hourly Earnings rose 0.4%, the largest monthly increase since June 2013, and were 2.1% higher than one year ago.  The strength of the data may increase pressure on the Fed to begin raising rates sooner than anticipated.  Separately, the Trade Deficit came in above expectations and Factory Orders fell 0.7%.  No other key data will be released today.

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