Both bonds and stocks are slightly worse today.  In economic news, the Jan ADP employment estimate, expected to show 35,000 private sector jobs lost came in better at 22,000.   Additionally the December ADP report was revised to 61,000 jobs lost in Dec vs the 84,000 originally reported.  The ADP decline of 22,000 for Jan was the smallest in 2 years.  The ADP report is based on data from about 360,000 businesses with at least 22 million workers on payrolls. ADP began keeping records in January 2001 and started publishing its numbers in 2006.   January's Institute of Supply Management (ISM) Service Sector index came in at 50.5 which was slightly worse than the 51.0 the market had been expecting.  Any index read over 50 signifies expansion. The big economic report for this week will be the January Non-Farm Payroll report.   Markets are currently expecting approx 40,000 jobs lost, although there is a sense that the number could be closer to breakeven.  A number at or higher than the 40,000 would tend to be supportive of steady interest rates.  A breakeven number on the non farm payrolls could cause some major indigestion for bond holders who have been betting on dismal employment numbers and put upward pressure on rates.  Volatility could also increase tomorrow the Initial Jobless Claims for the week ended 1/30.  Analysts are expecting claims to have dropped by 15,000.