Rasmussen has just released their Monday morning Dem update which shows Obama within 5 pts. of Hillary:

In the first Rasmussen Reports national polling about the Democratic Presidential nomination since the first quarter fundraising totals were released, Illinois Senator Barack Obama has closed to within five points of New York Senator Hillary Clinton. The new numbers are Clinton 34% Obama 29% with former North Carolina Senator John Edwards holding in third place at 15%. New Mexico Governor Bill Richardson has carved out a position atop the second tier of candidates, but currently attracts only 4% support.

Obama has exceeded his current level of support only once in the weekly Rasmussen Reports polls. That came three weeks ago when the Illinois Senator temporarily spiked to 30%. It will take another week’s polling to determine if the current result is a lasting improvement for Obama or merely statistical noise.

While Obama and Clinton are the frontrunners among Democrats, Edwards outperforms them when matched against leading GOP contenders. Polling data released today shows Edwards leading GOP frontrunner Rudy Giuliani. When matched against America’s Mayor, Clinton and Obama are essentially tied. Similar results are found when matching the leading Democrats against Arizona Senator John McCain (R). Clinton and Obama are even with the Republican hopeful while Edwards has an advantage.

When former Tennessee Senator Fred Thompson is mentioned as the GOP nominee, Clinton is tied, Obama leads by eight, and Edwards has a fourteen point advantage.

The GOP update will be released tomorrow morning.