The ADP private payrolls data released on Wednesday showed an increase of 98,000 jobs in June, a decline from the 122,000 jobs added in May and below the anticipated 110,000. This report serves as a precursor to the official non-farm payrolls data expected on Thursday, which is projected to reveal a 115,000 increase in jobs, down from 172,000 in the previous month.
The unemployment rate is forecasted to remain steady at 4.3%. Following the ADP report, Treasury yields remained relatively unchanged, with the 2-year Treasury yield at 4.2%.
This yield level is similar to those seen after Kevin Warsh's recent Federal Reserve rate decision, where he emphasized a commitment to 'price stability.' Investors will be closely watching these employment figures as they could impact future monetary policy decisions