The ADP report, which barely correlates at all with the official data on a month-to-month basis, came in weak and that may mean the soft consensus is a little lower than the 160K NFP increase that forecasters are looking for. 

I have a bias to think it could be a bad day for bonds, with US politics, debt supply, and strong payrolls all potentially supporting the Dollar as we look ahead to next week’s auctions and CPI data; but I’m biased because I’ve caught, and a cold and it’s darkened my mood!