I think the market has realized that and that is why the stock is up so much in the last 3 months.
If rates go up, ADP makes millions on the billions of float they have
If jobs numbers improve, ADP gets more billing
Normally, rising jobs numbers would mean rising rates
new all-time high hit today
new all-time high just hit again
rates up. Jobs up. ADP will move to new highs this quarter
It already has.
nice move up today