Private nonfarm payrolls in the US are projected to increase by 196,000 (seasonally adjusted) in April over the previous month in tomorrow’s update of the ADP Employment Report, based on The Capital Spectator’s average point forecast for several econometric estimates. The average projection reflects a fractionally lower gain vs. the previous month’s robust increase.
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Correction: Please note the correction in the data table below, as of 5/5/2016. An earlier version of the table used incorrect asset class labels in the far left-hand corner. The data was correct but mis-identified. The labeling has been corrected. Apologies. –JP

The expected risk premium for the Global Market Index (GMI) increased for the second straight month in April, rising to the highest level since last November. GMI—an unmanaged market-value weighted mix of the major asset classes—is projected to earn an annualized 3.3% over the “risk free” rate in the long term–moderately above last month’s estimate. (For details on the equilibrium-based methodology that’s used to generate the forecasts each month, see the summary below.)
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● US ISM Mfg Index stays positive, but just barely in Apr | Reuters
● PMI: US mfg output close to stagnation in Apr | Markit
● US construction spending +0.3% in Mar–highest level in over 8 years | AP
● US Consumer Spending Increases in Apr, according to survey | Gallup
● US GDPNow forecast for Q2 GDP: +1.8% | Atlanta Fed
● China’s Caixin manufacturing PMI slips again in Apr | MarketWatch
● Reserve Bank of Australia cuts cash rate to fight deflation | Financial Review