What to Watch: ADP, Fed Mester Q&A

Tsys trading weaker but off late overnight lows, 30YY currently 3.2433 (+.0278) after tapping 3.2670% high. Rates generally tracking EGB moves overnight. Main focus this morning on return of ADP w/ new methodology for it's private-sector employment report at 0815ET.

• Additional data at 0945ET: MNI Chicago PMI (52.2 est, 52.1 prior)
• Fed speak:
  • Cleveland Fed Mester just out with eco-outlook at Dayton CoC, Q&A forthcoming. Mester mirroring Jackson Hole comments in support of > 4.0% rates in 2023, no rate cuts next year, recession risk over next one to two years has risen.
    
  • Later this evening: Dallas Fed new President Lorie Logan event at 1800ET
  • Atl Fed Bostic, moderated Q&A Georgia Fintech Academy, 1830ET
• Geopol: Eye on Russia: FM-We Support Revival Of Nuclear Deal, Removal Of All Sanctions On Iran: Speaking at a joint presser in Moscow, Russian Foreign Minister Sergey Lavrov states that Russia, "supports the revival of the nuclear agreement and the cancellation of all sanctions imposed on Iran". Lavrov speaking alongside Iranian counterpart Hossein Amir-Abdollahian
• And Taiwan: Wires-Taiwan Military Vows Counter-Attack If China Enters Territory: Wires carrying comments stating that Taiwan has vowed a 'counter-attack' if Chinese forces enter its territory.