Yesterday, we had the report of job creation in the US from the ADP, which provided some encouraging signs for what we might get from NFP tomorrow. Of course, the ADP has lost a bit of its predictive capacity, and the numbers it reports aren’t always reflected in the final results. But, considering that ADP beat expectations by more than double, it could be a sign that NFP this time around will be quite good. There are a couple of reasons to expect a substantial beat (and, naturally, a couple of reasons why it might not happen). But, given the trajectory of interest rate policy lately, as well as the rise in the ... (full story)