Daily Market Update 7/8/16

Rates held steady Friday in volatile trading following the release of the June Employment Report.  The economy added 287,000 jobs last month, far exceeding the consensus forecast of 180,000.  Market reaction was muted, however, by a downward revision to May figures, showing meager growth of 11,000 jobs.  Also, average hourly earnings fell short of expectations, having increased by just 0.1% in June.  Separately, the Unemployment Rate rose to 4.9% due to an increase in the number of people seeking employment.  Stocks moved higher.  No other key data will be released today.

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