[Over 60% Odds of Fed Rate Cut in December After ADP Employment Data Release] ADP employment data shows that the U.S. labor market is slowing down, U.S. Treasury futures surged, and the dollar index declined. The implied yield on U.S. 10-year Treasury futures fell 4 basis points from Monday's close of 4.12%. Currency market swaps indicate that the probability of a Fed rate cut in December is priced at over 60%.