Daily Market Update 3/4/15

Rates held steady Wednesday as today’s economic data came in close to expectations.  This morning, payrolls firm ADP estimated private sector job growth of 212,000 in February, below the consensus forecast of 220,000, but January figures were revised higher.  The Institute for Supply Management services index came in at 56.9, a bit better than expected.  Readings above 50.0 indicate expansion in the services sector of the economy.  The Fed’s Beige Book, a survey of economic activity by the 12 regional Federal Reserve Banks, will be released at 2:00 PM.

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