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We had a hint of potential surprise with the monthly Non-Farm Payrolls report released each first Friday of the month. Although usually a non-event, the ADP jobs report surprise – twice the number of jobs added as expected – was a major event and sent the bond market falling to downside price targets as yields rallied to the key 4.0% level in the 10-Year Treasury Note. Stocks slid lower as well as we’re adjusting to stronger than expected jobs numbers and any additional surprises ahead with the big monthly Jobs Report tomorrow. In tonight’s video, we also update all the nine major market sectors and how they’re holding up – or not – halfway through 2023.
