Daily Market Update 9/1/15

Rates were little changed Tuesday as mortgage-backed securities recovered from yesterday’s late losses.  Weaker than expected manufacturing data in China pushed global stocks sharply lower.  In the U.S., Construction Spending rose 0.7%, beating expectations.  Separately, the Institute for Supply Management manufacturing index fell to 51.1, the lowest level in over two years.  Readings above 50.0 indicate expansion in the manufacturing sector.  No other key data will be released today.

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