Treasury yields slip after ADP miss

The 10-year Treasury yield dips two basis points to 2.58% following a small miss in ADP jobs, with a gain of 179K vs. 210K expected. April's gain of 220K was revised lower by 5K.

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Comments (16)
  • mrdirt
    , contributor
    Comments (766) | Send Message
    No problem come Friday the BLS UE 3 rate will drop to 6% because another 800k will have stopped looking for work. No Recession (statiscally) No Recovery either.
    4 Jun 2014, 08:49 AM Reply Like
  • bbro
    , contributor
    Comments (11227) | Send Message

    4 Jun 2014, 09:39 AM Reply Like
  • MLP Trader
    , contributor
    Comments (1065) | Send Message

    4 Jun 2014, 09:56 AM Reply Like
  • llkeith
    , contributor
    Comments (13) | Send Message
    Good one, MLP.


    The total number of people employed might have gone up (as bbro indicated), but who really gives a damn? The population also increased and therefore the ratio of those employed to the population as whole has actually been in a downward trend; how is that a sign of a robust economy?


    The economy is (at best) muddling along. How can we justify all-time record highs in the stock market against the backdrop of a lackluster economy?
    4 Jun 2014, 10:39 AM Reply Like
  • bbro
    , contributor
    Comments (11227) | Send Message


    GDP per employee....


    2013 01 118.19678253772800
    2012 01 114.65729128844000
    2011 01 112.32000340821900
    2010 01 109.37127511381100
    2009 01 105.52701557099700
    2008 01 101.46335679261200
    2007 01 100.42865053701000
    2006 01 96.37870795368910
    2005 01 93.75210154673840
    2004 01 89.66137377341660
    2003 01 85.38699958818300
    2002 01 81.40457097620690
    2001 01 78.66913640139070
    2000 01 76.12088886305170
    4 Jun 2014, 10:51 AM Reply Like
  • MLP Trader
    , contributor
    Comments (1065) | Send Message
    Not seeing it. Maybe you need a subscription to this bizarre site.


    In any case, you should try it again, but use REAL GDP this time.
    4 Jun 2014, 11:07 AM Reply Like
  • Hank890
    , contributor
    Comments (2260) | Send Message
    Huge numbers, record numbers of people, in their 60s, are now voluntarily retiring, on schedule or a bit early, ...yet in spite of this, the total number of people employed, on an absolute basis, keeps climbing.


    Moreover, because the retiring folks generally are higher paid than the newly entering folks on average, labor productivity is climbing too. America's competitive strength is vitally dependent on increasing our labor productivity.


    Overall, the existing circumstance is a heathly foundation for growth in earnings. And, taken together, that grow in earnings is definitely economic recovery whether you like it or not. People who really want to work, and persistently seek work, are generally finding employment in most (not all) regions;...however, unfortunately, others are seeking something other than real jobs,...we have all met such unhappy people.


    At current employment growth levels, trying to further maximize the employed proportion of the population is not necessarily helpful to the overall economy. The proportion of employed is growing, btw, just slowly.


    Make-work pseudo-jobs, too often in the public sector, for the chronically underskilled is a net drag on the economy and on productivity. Far better to invest in training underskilled folks to upgrade their capability for getting work the "in-demand" semi-skilled positions (which pay well OVER minimum wage and which countless employers are having real trouble filling, btw) than it is to suggest rashly foolish actions either to increase state welfare, or else, to artificially inflate mandated minimum wages. The latter two methods are, of course, both dangerously inflationary.
    4 Jun 2014, 12:09 PM Reply Like
  • june1234
    , contributor
    Comments (4411) | Send Message
    Corp profits which are included in GDP hit record 11% of GDP last yr. They represented less than 5% of GDP in 2000. Also if you subtract inflation you basically have zero growth
    4 Jun 2014, 02:59 PM Reply Like
  • Michael Clark
    , contributor
    Comments (11720) | Send Message
    Have you seen a chart of the Labor Participation Rate? If so, it is really hard to make the claim that the number of people working, on an absolute basis, keeps growing...

    4 Jun 2014, 03:05 PM Reply Like
  • bbro
    , contributor
    Comments (11227) | Send Message

    5 Jun 2014, 06:09 AM Reply Like
  • bbro
    , contributor
    Comments (11227) | Send Message
    Nevermind....would prefer you thought the data I gave you was bogus....
    4 Jun 2014, 11:14 AM Reply Like
  • Matthew Davis
    , contributor
    Comments (4746) | Send Message


    Maybe you should post all this on MSNBC or some other website where they might believe you?


    You're numbers are bogus we all call you out on it time and again, I have to respect your ability to ignore reality.


    You can make numbers say whatever you want them to say.
    4 Jun 2014, 12:35 PM Reply Like
  • bbro
    , contributor
    Comments (11227) | Send Message
    "You're numbers are bogus".... Excellent!!!
    4 Jun 2014, 12:55 PM Reply Like
  • WisPokerGuy
    , contributor
    Comments (1379) | Send Message
    I don't want to get into a huge political debate (mostly because that doesn't make me any money), but let me just say this...


    I live in the Midwest (Wisconsin) and although the economy here isn't fantastic, anyone who doesn't think things are better now then they were even 3 years ago must not be paying attention. While people still watch their pennies, they ARE buying relatively big ticket items again like cars and things for their houses. And while most of my age-group (early 50's) may still be concerned about their jobs, I don't know of anyone that goes to bed worried that the company they work for is about to go out of business and they'll be unemployed. That is progress over the last 5 years!!!


    I'm just saying that while the overall economy may not be great and taking off, it is without a doubt better (in my opinion) and that is good news for stocks. And if equities are moving up now, think how they will perform when they economy really does start to take off.


    Disclosure - long equities and see absolutely no reason to reassess that view.
    4 Jun 2014, 01:31 PM Reply Like
  • FreeMktFisherMN
    , contributor
    Comments (463) | Send Message
    The best thing that the economy had going for it was 5 years ago in the immediate aftermath of the crash as people actually realized they needed to save. The recession was a healthy market based phenomenon, whereas TARP and QE and all the other interventions are sugar highs who have led to what I believe is pretty much peak euphoria right now. People spending money on consumption and typically leveraging themselves to do so is not a good indicator of a robust economy. Moar cars is not what is needed. Better, non government backstopped auto makers making quality cars and exporting them is what is needed. To get the books in order as far as trade deficits. People are falling for the illusion of prosperity but inflation is already here and the price effect is just beginning in earnest as most things are already skyrocketing higher from food to fuel, despite this so called renaissance in domestic energy production. All of this 'progress' is phony and propped up and only guarantees a greater depression, which will be worse than the 30s because back then there still was a manufacturing base, whereas today the big US exports are 'Federal' Reserve Notes and forces abroad infiltrating other sovereign entities.
    4 Jun 2014, 02:36 PM Reply Like
  • Overanalytical
    , contributor
    Comments (1230) | Send Message
    "The recession was a healthy market based phenomenon"


    You are correct sir. Nothing can stop markets from expanding and contracting, all government can do is slow or speed it up.
    5 Jun 2014, 10:52 AM Reply Like
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