Daily Market Update 9/2/15

Rates inched higher Wednesday as stocks recovered a portion of yesterday’s losses, hurting mortgage-backed securities.  This morning, payrolls firm ADP estimated private sector job growth of 190,000 in August, a bit below expectations.  Factory Orders rose 0.4%, below the consensus forecast of 1.0%.  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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