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Goldman On The Philly Fed Miss, Which Comes At +1 vs. Exp Of +2
Mid-Atlantic Factory Activity Shows Little Change: Philly Fed factory survey improves slightly in October; both it and Conf Board's leading indicators index in line with expectations.
KEY NUMBERS:
Philadelphia Fed index +1.0 in Oct vs. GS flat, median forecast +2.0.
Leading indicators +0.3% in Sep vs GS and consensus +0.3%.
MAIN POINTS:
1. The Philadelphia Fed's monthly manufacturing survey for October improved slightly, with the headline index rising just into positive territory for the first time in three months. The key new orders and inventories indexes both showed modest improvement -- new orders were up from -8.1 to -5.0, while the inventories index declined to -18.6 from -16.7 (with lower values 'better' for this index). The shipment index improved from -7.1 to +1.4.
2. The survey suggested margin pressure, with the prices paid index rising to 31.5 while the prices received index remained well in negative territory (-9.0). The gap of over 40 points is near the-all time extreme for this survey, although prices paid index in particular can move a lot from month to month.
3. The Conference Board's index of leading indicators rose 0.3%, as expected. The biggest positive contributors were rate spreads, lower jobless claims, and growth in the money supply respectively.
from Jan Hatzius
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great. rate spread is meaningless when short rate is zero and jobless claims are soon to be revised upward which means lei will be revised downward which means pretty much all of this is completely irrelevant
Theyre just playing hide the sausage for a couple more weeks until they spring the sudden and surprising discovery things are actually quite a lot worse than our best anal-cysts had deciphered, and lay a collapsed market in the laps of the new republiclowns.
Im actually enjoying watching this total collapse of america while the moron public sits there with eyes dumber than a farm rabbits. Hillarious.
Manufacturing of what? Bullshit data report manufacturing is at all time record highs.
Mini Flash crashes again in JPM and WFC near the open this morning?.... The rigors of rigorous market rigging apear to be taking a toll on the perpetrators of the preposterous
Investors are rejoicing by buying Home Depot
Yes, "investors."
'Investors'....OH right, Bernanke.
Boy oh Boy...I don't know why, but all I see here are great names for race horses:
Philly Fed Miss
Which Comes
Little Change
Leading Indicator
Head Line
Positive Territory
Prices Paid
All Time Extreme
Can Move A Lot
In The Money
Guess people are buying a lot of 2 x 4s to board up the windows on all the empty houses in Baltimore. Either that or housing is really primed for a take off this quarter. (Not.)
dont worry - bamas in control
http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/why-is-obama-putting-a-fannie-maegoldman-sachs-lobbyistconsultant-as-nsa-105059764.html#ixzz12uHYvfat
Is there a way through which President can "Veto" the election results?
I think this is what is coming next...
77 on the USDX is being defended tooth and nail!
As someone on CNBC said this morning, we are all just currency traders.
More free money for the wall street elite, more free money for the 40 plus million on food stamps, more free money for the 9.6% unemployed, and send the bill to the few left working. That makes a lot of sense and allows conductive reasoning for the markets to be surging, right on Wayne, party on Garth.
All the data came in pretty much as expected, some a bit weaker some a bit stronger. Sounds like a benign economy to me. Slowly grinding along as it has been and will continue to do so.
trillion dollar deficits and all we got was grinding along? Sheesh, is that type of inflation even tracked?
Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic.
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