YES! We would recommend locking prior to Friday's job report. Good News in the economy is bad news for Bonds – be sure your clients and referral partners get it. ADP which provides a look into the health of the labor market, reported that there were 215K jobs created in the private sector in November, well above the 160K. October's numbers were also revised sharply higher to 184K from 130K. The gains in November represent the largest in a year. The report comes before the government's official November Jobs report this Friday where it is expected that both private and government employers added 188K.
This good news brings fears that tapering talk will once again emerge – hence the reason why both Stocks and Bonds are lower. The next FOMC meeting is scheduled for December 18, but despite this positive data, we don't see any tapering this month ahead of incoming Fed Chief Janet Yellen in January.