ADP Jobs Report 77,000 jobs Created, expected 140,000.

  • Trade/transportation/utilities -33,000
  • Information -14,000
  • Financial Activities 26,000
  • Professional/business services 27,000
  • Education/health services -28,000
  • Leisure/hospitality 41,000

The ADP report was weaker than expected, helping bonds recover from news out of Germany regarding a proposed rule change that would allow increased defense and investment spending—an inflationary factor.

Mortgage applications are up mainly due to the lower interest rates over the past few weeks.

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