- The private sector added 182K jobs in October, according to ADP. That comes against expectations for a gain of 185K, and September's 190K print (revised down from 200K).
- Other months also saw modest downward revisions.
- Job gains over the past three months have averaged about 185K; for all 2015, about 193K.
- Full report
- Holding at 2.21% ahead of the number, the 10-year Treasury yield is now lower by two basis points to 2.19%. TLT +0.2%, TBT -0.4% premarket
- The bottom line is this is a status quo report, and status quo seems to be enough to get the FOMC to hike rates in December. Short-term rate futures contracts are pricing in about a 50% chance of a 25 basis point move.