Surprise, surprise, strong ADP report: link here.
The 10-year U.S. Treasury yield climbed back above 1.5% on Wednesday after data showed companies hired at a faster than expected pace in September despite worries over the Covid delta variant.
The yield on the benchmark 10-year Treasury note rose 2 basis points to 1.55%. The yield on the 30-year Treasury bond jumped 1 basis point to 2.11%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
And here, link:
- ADP: private sector employment increased by almost 600,000 jobs in September, m/m
- look where the hiring was:
- services: 466,000 jobs out of the 568,000 jobs (82%)
- among the services:
- leisure/hospitality: 226,000 (in services sector: almost 50%)
- next largest gainer, all the way down to 66,000 in education / health services (in services sector, less than 15%); and of the two, health care/social assistance twice that of education gains
- education? school just started -- bus drivers, cooks, etc.
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