Daily Market Update 6/5/15

Rates moved higher Friday following the release of stronger than expected employment data.  The economy added 280,000 jobs in May, well above the consensus forecast of 225,000.  Separately, the Unemployment Rate rose to 5.5% as a large number of people entered the labor force.  Average Hourly Earnings increased 0.3%, beating expectations, and were 2.3% higher than one year ago.  The relative strength of the report increases the chances that the Fed will begin raising short-term interest rates later this year.  Many analysts are expecting the first increase to occur in September.  No other key data will be released today.

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