Bonds Surging And Stocks Dropping After Weak ADP Report
Oct 2, 2013, 18:04 IST
In the wake of the ADP private-sector payroll creation release at 8:30 AM, S&P 500 futures are sinking and bonds are surging.
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ADP's report estimated that 166,000 private-sector payrolls were created in September - below consensus estimates for 180,000, and August's 176,000 reading was revised down to 159,000.
S&P 500 futures are trading down 0.7% at levels around 1677, versus levels around 1681 prior to the release.
Meanwhile, 10-year U.S. Treasury futures are up 0.4%. The yield on the 10-year Treasury note is 5 basis points lower at 2.60%.
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