Well, what can you say when that happens? The US apparently added 336,000 jobs in September, while there were a net 119k of upward revisions to the past two months. The market had looked for 170k with a range of 90-250k amongst the banks and consultants who submitted forecasts. The ISM reports didn’t suggest anything like this would happen, nor did the NFIB employment numbers and neither did the ADP report, which showed an 89k increase. Well… actually it did in its own special way. The ADP is the best way of forecasting non-farm payrolls right now given its bizarre inverse relationship seen in the chart below. Based ... (full story)