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Traders swear they won't get burnt by the ADP jobs report again.
ADP swears that their model works, despite that ginormous misfire last month (368,000 predicted versus an actual figure of 121,000).
The showdown is at 07:15 CDT Wednesday. We'll see if traders act good on their promise and ignore the report.
This blogger says they won't. Look out for early-morning volatility in mortgage rates as traders alter their holdings as a hedge against Friday's report from the Bureau of Labor Statistics.
Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator call 513-443-2020.
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