While correlation between ADP and...>

US DATA PREVIEW: While correlation between ADP and NFP is limited at best,

today's weaker than exp ADP data (+67k vs. +140k est) has yet to spur any

changes to dealer ests' for Fri's Nov NFP (+128k prior vs. +190k est). 

- Wells Fargo is in-line with consensus est of +190k adding that "after adding

just 128K jobs in October, some improvement is expected in November." Conceding

that the 10Y job mkt expansion is "starting to show its age," a "faster pace of

job growth would offer some assurance to the Fed and the markets that the

economy really is in 'a good place' after all."

- SEB: Nov NFP will be supported "by return of GM strikers." SEB said "Oct.

payrolls were surprisingly resilient, despite a 36k loss of manufacturing jobs

due to the GM strike and upward revisions of 95k for previous" 2 reads.

- Nomura: estimate +160k jobs for Nov, also citing GM worker return. However,

this will be "offset to some extent by adverse weather conditions during the

November BLS establishment survey week that most likely dampened hiring activity

in construction and leisure & hospitality, two industries that have shown

sensitivity to temperature swings in recent years."