Daily Market Update 9/1/17

Rates were little changed Friday in volatile trading following the release of key employment data.  The economy added 156,000 jobs in August, short of the consensus forecast of 180,000.  In addition, downward revisions subtracted 21,000 jobs from previous months.  The unemployment rate increased to 4.4%.  Average hourly earnings rose 0.1%, below expectations, and were 2.5% higher than one year ago.  In other news, the Institute for Supply Management manufacturing index jumped to 58.8, beating forecast.  Construction Spending fell 0.6%.  An increase of 0.5% had been expected.  No other key data will be released today.

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