Daily Market Update 8/1/16

Rates were little changed Monday as mortgage-backed securities gave back a portion of Friday’s gains.  In economic news, Construction Spending fell by 0.6%, below the consensus forecast for an increase of 0.7%.  The Institute for Supply Management manufacturing index declined to 52.6, a bit lower than expected.  Readings above 50.0 indicate expansion in the manufacturing sector of the economy.  No other key data will be released today.

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