In front of Friday's non-farm jobs data, APD released its measure of job growth this morning, telling us payrolls grew 179,000. While a decent number, it was lower than expected and lower than the 207,000 number from last month.
With another sign of a slowing economy, the Institute for Supply Management index of non-manufacturing companies slumped to 52.8 in April, the lowest since August, from 57.3 a month earlier.
After this morning's news U.S. stock markets are slumping with the DOW lower by almost 100 points while bonds continue to improve. The yield on the 10 year note has fallen to 3.22%.
The markets will now turn their focus almost entirely to Friday's jobs data.
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