What to Watch: ADP Private Jobs Data, OPEC+ in Vienna, Fed Speak

Tsys trading firmer, curves flatter as bonds moving back toward early overnight highs when reports Saudi Arabia prepared to boost output put the brakes on crude rally. West Texas crude currently -3.07 at 112.19, Brent around 116.0 after tapping 122.0 yesterday. Stocks gaining (ESM2 +22.0 at 4121.0). Rather modest volumes with London out for two-day Spring, Platinum Jubilee holiday. Focus on ADP private employ data ahead Fri's NFP (+325k est vs. +428k prior).

• Flurry of Economic data coming up:
  • ADP Employment Change (247k, 300k), 0815ET
  • Initial Jobless Claims (210k, 210k), Continuing Claims (1.346M, 1.340M)
    
  • Nonfarm Productivity (-7.5%, -7.5%); Unit Labor Costs (11.6%, 11.6%)
    
  • Factory Orders (1.8% rev, 0.70%); ex-Trans (2.1% rev, --), 1000ET
  • Durable Goods Orders (0.4%, 0.4%); (ex-Trans (0.3%, 0.3%), 1000ET
  • Cap Goods Orders Nondef Ex Air (0.3%, 0.4%); Sipped (0.8%, --), 1000ET
• Fed speak:
  • Fed VC Brainard on CNBC at 1000ET
  • NY Fed exec-VP Logan mon-pol conf, text, no Q&A, 1200ET
  • Cleveland Fed Mester eco-outlook, text, Q&A, 1300ET
• US Tsys auctions: US Tsy $35B 4W, $30B 8W bill auctions at 1130ET
• Geopol risk: Close eye on OPEC meeting in Vienna after output headlines amid ongoing debate over EU/Russia oil sanctions.