It was another light week in economic data.

Wednesday the Federal Reserve Open Market Committee (AKA the FOMC), left the fed funds rate (often called prime rate) as is. No raise there.

Thursday the January non-farm payrolls were up 304,000. The national jobless rate was up to 4%, and the average hourly earnings were up 0.3%. All benign news to the market makers

Friday the January Institute of Supply Management manufacturing index released a level of 56.6% up from last month’s  54.3%. Not good for rates.

But the balance of benign, good and bad made interest rates stay at last week’s levels


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