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OUTLOOK: ADP, Bill Issuance

US

US Data/Speaker Calendar (prior, estimate)

  • Feb-2 0700 MBA Mortgage Applications (-7.1%, --)
  • Feb-2 0815 ADP Employment Change (+807k, +184k)
  • Feb-2 1130 US Tsy $40B 119D bill CMB auction
  • Next Fedspeak scheduled for tomorrow with Raskin, Cook & Jefferson confirmation hearing at 0845ET but there have been various unscheduled speakers of late.
  • On ADP, consensus is for +184k in Dec on a drag from Omicron, with a primary dealer range of -100k to +250k. Remember that the surging +807k in Nov saw one of the largest beats on private payrolls, which came in at just 211k.

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