- Bond markets are generally quiet, but there is still some noise on the periphery; Asian equities were mixed; we still see significant pockets of deflation out there
- It was amazing to see everyone’s analysis yesterday of the non-manufacturing ISM index — despite how soft it was
- The U.S. service sector ISM came in light
- ADP — nice rebound: The ADP jobs data doubled market expectations — coming in at +157k for June but the next question is how to interpret the data
- As for nonfarm payrolls tomorrow, one can now see the prospect for 150-175k print given the relationship between ADP and private payrolls in the Bureau of Labor Statistics release
Welcome to the Vitus Capital Blog!
Notes to myself, possibly of interest to others.
-- Bill Northlich