- The ADP reported 200K private-sector jobs added in September versus estimates for 190K, but revisions to prior months were mostly negative. On balance, we'll call the report a slight miss.
- The 10-year Treasury yield is at 2.08%, up three basis points on the session, but down two bps from before the ADP print.
- ADP job gains are slowing down. They averaged 185K per month in Q3 versus 202K per month in Q2, 199K per month in Q1, and 263K per month in Q4 of 2014.
- Full report
- TLT -0.5%, TBT +1% premarket
- ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX