Daily Market Update 1/9/15

Rates were little changed Friday in volatile trading following the release of mixed employment data.  The economy added 252,000 jobs in December, beating forecast.  The Unemployment Rate fell to 5.6%, to the lowest level since June 2008.  However, Average Hourly Earnings fell far short of expectations and were just 1.7% higher than one year ago, an indication that the new jobs created tended to be lower paying ones.  On balance, the report was considered roughly neutral in terms of inflationary pressures.  Stocks moved lower.  No other key data will be released today.

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