Early Jobs Count Comes in Light

The ADP private employment change report just came out and the results are a little disappointing. Today’s report for August job creation indicated a total of 428k against an estimated 1M. July’s disappointing total of 167k was revised to 212k. The BLS report comes out this Friday and early forecasts suggest a 1.4M boost. A little earlier today, the Mortgage Bankers Association reported that, for the week ending August 28th, mortgage applications fell 2%.

Treasuries like the news so far and prices are up slightly. The Ten-Year’s yield is around 66 basis points as the Long Bond threatens to dip below 1.40%. Crude oil is up slightly to just over $43 while gold has dipped about $6 to $1,963.