Seldom has a payrolls report been awaited with more bated breath than this morning. Here’s what is anticipated:

U.S. payrolls probably rose by 85,000, according to a Reuters survey, after a measly 18,000 gain in June. The unemployment rate is expected to hold steady at 9.2 percent.

I have little doubt that Ben Bernanke was on the phone to the BLS last night, informing them that the number had damn well better be north of 100,000.