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Daily Market Update 3/2/16

Rates inched higher Wednesday as yesterday’s stock market rally hurt mortgage-backed securities.  In economic news, payrolls firm ADP estimated February private sector job growth of 214,000, above the consensus forecast of 185,000.  The Fed’s Beige Book, a survey of business conditions by the 12 regional Federal Reserve Banks, will be released at 2:00 PM.

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