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On tap for Wednesday: May ADP.......>

US DATA PREVIEW
US DATA PREVIEW: On tap for Wednesday: May ADP private payrolls; May Markit
Services Index; May ISM Non-manufacturing Index; Jun help-wanted online ratio;
Fed Beige Book for upcoming FOMC meeting (June 18-19).
* "Consistent with our forecast for Friday's BLS employment report" Nomura
economists "expect ADP to report a gain of 170k in private employment during
May." On the ISM nonmanufacturing index, Nomura forecasts a "2.5pp decline to
53.0 for the May ISM nonmanufacturing index."

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