Daily Market Update 10/2/15

Rates moved lower Friday following a disappointing September Employment Report.  The economy added just 142,000 jobs last month, well below the consensus forecast of 203,000.  In addition, previous months were revised lower by 59,000.  The Unemployment Rate remained at 5.1%, largely due to a decline in the workforce participation rate.  Average Hourly Earnings fell slightly from August, but were 2.2% higher than one year ago.  Separately, Factory Orders declined by 1.7%, below expectations.  Stock fell sharply.  Taken together, the newly released data eases the pressure on the Fed to raise interest rates later this year.  No other key data will be released today.

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