US markets reacting to the stronger ADP report

After the stronger than expected ADP report:

• Stocks are lower

The S&P is now down about -9.56 points and the Nasdaq is down around -59 points.

Yields are higher:

• 2 year is up 2.1 basis points from around unchanged
• 10 year is up 3.4 basis points at 4.399%
• 30 year is up 3.3 basis points at 4.541%

The USD is a bit higher erasing some of the declines vs the EUR and GBP:

• USDJPY is trading to a new high of 151.905 and tests the swing highs from 2022 to 2024 between 151.91 to 151.967.

This article was written by Greg Michalowski at www.forexlive.com.