The ADP Employment Report and BLS Jobs report don't always correlate month to month, as evidenced by the last month's reports, where ADP was higher significantly than BLS. They do, however, correlate closely over time. It would seem that the BLS report is due to catch up a bit and this could point to a strong Jobs Report tomorrow. If there is a strong Jobs Report tomorrow, Stocks will likely benefit at the expense of Mortgage Backed Securities. And if that occurs, rates could move higher.