The ADP Private Payroll report for September was just released and the 749k jobs added outpaced the expected gain of 649k. Also, August’s tally of 428k was revised to 481k. Earlier, the Mortgage Bankers Association announced that, for the week ending September 25th, Mortgage Applications fell 4.8%.
Markets seem little affected by the news in early trading with the Ten-Year’s yield steady at around 64 basis points. The Long Bond rests at 1.41% and the Two-Year is unchanged at 12 basis points. Gold is off about $14 to $1,884 while crude oil is little changed at just over $39. Equities indices are all in the red in pre-opening trading. The BEA will be releasing the 3rd estimate of Q2 GDP numbers a little later and not much change is expected.