Presenting The Perfectly Clueless Histogram Of Today's Sellside NFP Forecasts

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Fri, 07/08/2011 - 07:26 | 1435431 Manzilla
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That truly is beautiful.

Fri, 07/08/2011 - 07:27 | 1435434 hugovanderbubble
hugovanderbubble's picture


CAD use to lead US NFP

Canadian Net Change in Employment (Jun) M/M 28.4K vs. Exp. 15.0K (Prev. 22.3K)


So lets hit a new high today¡¡¡

Fri, 07/08/2011 - 07:37 | 1435452 sabra1
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According to BMO, the largest gains were in transportation & warehousing (+14.5k) and finance (+11.3k)—which aren’t particularly significant moves.

“The only sizeable drop was in professional & technical services, which fell 19.2k. Both manufacturing and construction eked out small gains, as did education (which is often a bit wonky this time of year). In other words, there don’t seem to have been any special factors at play last month, for a change,” notes a BMO report.

Two provinces accounted for all the strength, Alberta saw more than 22,000 jobs and Ontario40,300.

Fri, 07/08/2011 - 07:43 | 1435466 hugovanderbubble
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Thanks Sabra for splitting and complementing info.

Fri, 07/08/2011 - 07:28 | 1435436 RunningMan
RunningMan's picture

Has anyone ever done this same distribution chart and compared with the outcomes? Say for the last few years? Scatter chart of mean forecast versus outcome, with stdev as size of marker? I'd be curious if peak uncertainty always surprises to one end of the spectrum...

Fri, 07/08/2011 - 07:30 | 1435442 Manzilla
Manzilla's picture

I've been curious to see something like this for years. It would be fun to see.

Fri, 07/08/2011 - 07:29 | 1435440 TooBearish
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Joe has been blowing Obamas dik harder than Krugman or the half Iranian from Moody's...still angling for that Council of Economic Advisers position...

Fri, 07/08/2011 - 07:31 | 1435441 swissinv
swissinv's picture

putting my self to the left fat tail

Fri, 07/08/2011 - 07:39 | 1435456 hugovanderbubble
hugovanderbubble's picture

Impossible my friend Swissinv

Adp good

and Canada good...


Other thing will be " sell the news" when US opens...



Fri, 07/08/2011 - 09:00 | 1435825 swissinv
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very good indeed, the absolut disaster -> but no worries it's all planned

Fri, 07/08/2011 - 09:17 | 1435939 hugovanderbubble
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Awesome accuracy, congratulations for ur call Sir.

Fri, 07/08/2011 - 07:33 | 1435446 flyr1710
flyr1710's picture

who are the sellsides w/no names - don't want to be associated w/those forecasts?

on another note last nite the FM guys were so impressed with Joe Lav's 'trusted' insight (only because he spews his falsities on that show routinely) that they are now in agreement w/him so that means it will clearly be wrong. 

Fri, 07/08/2011 - 07:48 | 1435474 snowball777
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Burn your TV.

Fri, 07/08/2011 - 07:49 | 1435447 alexwest
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Fri, 07/08/2011 - 07:41 | 1435463 scratch_and_sniff
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I smell a big hairy beat, i smell bear blood in the air. (350k+)

Fri, 07/08/2011 - 07:49 | 1435481 snowball777
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At least you're a funny troll.

Fri, 07/08/2011 - 07:46 | 1435472 hugovanderbubble
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+2.989k and full employment )


The problem will be mean wages =1$ per hour?)

Fri, 07/08/2011 - 07:50 | 1435482 snowball777
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But on the upside, you won't have to learn Mandarin first.

Fri, 07/08/2011 - 07:52 | 1435486 trampstamp
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Last months NFP numbers of 54k were a technicality due to the timing of the report and numbers coming in. Rightttt. So this month those numbers that didn't make it into last months report will be in this one making it look like OMG alot more jobs filled for June. 20 ES handles easy.

Fri, 07/08/2011 - 08:09 | 1435533 Boilermaker
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I have always had a problem guessing how many fingers are behind someone else's back also.  It's really really difficult to forecast lies.

Fri, 07/08/2011 - 08:14 | 1435544 richard in norway
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wasn't the birth/death ajustment massive last time out or am i thinking of something else

Fri, 07/08/2011 - 08:21 | 1435566 Boilermaker
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Of course it was.  It will be again.  And it will be in the future.  How else can you dupe people?  99% of the people don't read anything but the headline.  Unfortunately, it probably works.

Fri, 07/08/2011 - 08:44 | 1435707 PhD
PhD's picture

Common, give the guy a break! Just divide JoLavorgnas' number by 10 and he was almost spot on!

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