Daily Market Update 3/3/16

Rates were little changed Thursday as newly released economic data came in close to expectations.  This morning, weekly Jobless Claims rose to 278,000, slightly above forecast.  Fourth quarter Productivity was revised from -3.0% to -2.2%, a bit better than expected.  Factory Orders rose 1.6%.  An increase of 2.0% had been expected.  The Institute for Supply Management services index declined to 53.4, in line with expectations.  Readings above 50.0 indicate expansion in the services sector of the economy.  No other key data will be released today.  The closely-watched Employment Report for February will be released tomorrow at 8:30 AM.

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