ADP Misses Expectations, Second Worst Print In Last 8 Months; Sequester Blamed

By now it is futile to point out the woeful inability of the ADP report to predict the NFP’s ARIMA X 12 output of pure noise so we’ll leave it at that. Here is the headline: May private payrolls created 135K with consensus looking for 165K – only two analysts were looking for a weaker number. This…

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ADP Misses Expectations, Second Worst Print In Last 8 Months; Sequester Blamed

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