Daily Market Update 6/1/16

Rates held steady Wednesday following the release of mixed economic data.  This morning, the Institute for Supply Management manufacturing index rose unexpectedly to 51.3 from 50.8.  Readings above 50.0 indicate expansion in the manufacturing sector.  Separately, Construction Spending fell by 1.8%, below the consensus forecast for a 0.5% increase.  The Fed will release its Beige Book, a quarterly business survey of economic conditions by the Fed’s 12 regional banks, at 2:00 PM.

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