Daily Market Update 1/7/15

Rates faced upward pressure Wednesday as mortgage-backed securities gave back a portion of their recent gains.  In economic news, payrolls firm ADP estimated private sector job growth of 241,000 in December, above the consensus forecast of 235,000.  The December Trade Deficit came in lower than expected.  Stocks moved higher.  Formal Minutes from last month’s Fed meeting will be released at 2:00 PM.

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