Rates inched higher Friday following the release of stronger than expected employment data. This morning, the Labor Department said nonfarm payrolls rose by 200,000 in January, beating expectations for an increase of 175,000. The unemployment rate remained at 4.1%, matching estimates. Average hourly earnings, an indicator of wage growth, rose 0.3%, in line with forecast, and were 2.9% higher year-over-year. Separately, December Factory Orders rose 1.7%, slightly more than expected. Consumer Sentiment fell to 95.7, close to forecast. Stocks fell sharply on concerns about higher interest rates. The 10-year Treasury yield rose to 2.84%, a four year high. Conventional 30-year fixed rates have risen by about 0.25% this week and 0.50% since January 1. No other key data will be released today.