ADP Jobs Added 497k In June! Almost Guarantees Another Rate Hike At July FOMC Meeting, 10Y T-Yield UP >10 BPS, 2Y T-Yield UP 16 BPS (Yellen Goes To China?) Bitcoin Cash UP 10%

Confounded Interest ^ | 07/06/2023 | Anthony B. Sanders

[Kaiser8408a]

The good news (if true)? ADP announced that 497k jobs were added in June.

The bad news? A 497k print on jobs (many seasonal, it is summer!) almost guarantees that The FOMC (Fed Open Market Committe) will raises rates againt at the July meeting.

The 2-year Treasury yield is up over 10 basis points.

The 2-year Treasury yield is up 16.5 basis points.

Bticoin Cash is up 10% today.

I should have bought nickel!

Why is Biden sending Treasury Secretary Janet “The Marxist Midget” Yellen to China? A Treasury Secretary and former Federal Reserve Chair? Likely trying to convince China that our $32 TRILLLION AND GROWING national debt is not a problem, since China is the third largest holder of US Treasury debt (after The Fed and Japan). Note that China has decreased its holdings of US Treasuries by -25.6% since January 2018.

Hopefully, Yellen isn’t acting as a bag man for The Biden Crime Family. 10% for The Big Guy?? How much does Yellen get??

[Kaiser8408a]

Yelllen going to China? Is this a vacation club?

[j.havenfarm]

Do we think the Fed knows that ADP is ALWAYS wrong, often by a lot? And she’s a Hobbit, not a midget. Not one of the nice hobbits, but a hobbit nonetheless. Notice how they never show her big hairy feet on camera

[knarf]

I thought cyber currency was dead ?

[griswold3]

3 days ago
From The Hill
China is in default on a trillion dollars in debt to US bondholders. Will the US force repayment?
BY ANDREW HALE, OPINION CONTRIBUTOR - 07/04/23 7:00 AM ET
Maybe she’s going there to collect for the bond holders