In addition to the slow October ADP print - 130K jobs added vs. 150K forecast - September is revised lower by 21K jobs to 145K.
Even though ADP measures private sector jobs, October's print isn't exactly a "clean" one thanks to the government shutdown and its effect on the contractor industry. Still, the hiring trend this year is clearly on a downslope.
Already higher on the day, Treasury prices are little-moved by the report. The 10-year yield remains off 2 basis points at 2.49%. TLT +0.1%.