Daily Market Update 1/5/17

Rates held steady Wednesday following the release of mixed employment data.  This morning, payrolls firm ADP estimated private sector job growth of 153,000 in December, below the consensus forecast of 170,000.  Separately, weekly Jobless Claims fell to 235,000, well below expectations.  The Institute for Supply Management services index was unchanged at 57.2, a bit higher than expected.  Readings above 50.0 indicate expansion in the services sector of the economy.  Stocks were little changed.  No other key data will be released today.

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