Yields, Dollar Jump On Giant ADP Beat

Well, that escalated quickly…

  • ADP says U.S. firms added 246k jobs in Jan.
  • 246k jobs vs. est. 168k (range 140k to 204k) from 39 economists.
  • Dec. revised by -2k to 151k from 153k as reported last month.
  • Small firms (1-49) added 62k jobs in Jan.
  • Medium firms (50-499) added 102k jobs in Jan.
  • Firms with over 500 employees added 83k jobs
  • Treasuries fall to session lows after January ADP Employment
  • The dollar gained after ADP employment report was stronger than expected;
  • The Bloomberg dollar index stayed within the day’s range, though USD scored fresh highs vs EUR and JPY.


What’s the over/under on how long it takes Trump to tweet something?


One thought on “Yields, Dollar Jump On Giant ADP Beat

  1. It may not be apparent as one is sipping beverages oceanfront on a sunny island, but the eastern half of the US had great weather in January outside a few cold days, with no winter storms to speak of. Normally when that happens we get a pop in the Jan/Feb numbers, as the seasonal algorithms do not take that into account, and we give the jobs back in the Spring. The 25k pop in construction jobs in a category that has been flat-lining is certainly a clue. From DC to Boston was 6 degrees above normal. Also note those regions were leaders in the Fed Manufacturing Index surveys and the ISM PMI which tracks the surveys well.


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