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Today's Economic Data Docket - ADP, Services ISM And More Irrelevant Fed Speeches

Tyler Durden's picture




 

ADP, the non-manufacturing ISM, and the first policy speech from the new president of the San Francisco Fed. Also a bunch of other non-dissenting yet hawkish, and extremely hypocritical Fed presidents are speaking elsewhere warning how dangerous the printer's policy is even as they vote for its with every FOMC meeting.
 
8:00: Boston Fed President Eric Rosengren at real estate conference.
 
8:15: ADP employment report (April): Modest slowing? Over the last six months, growth in the ADP measure of private employment has closely matched the official BLS count. The ADP series increased by an average monthly rate of 174k over this period, while the BLS measure increased by an average of 167k per month. Consensus expectations for ADP this morning therefore look consistent with forecasts for Friday’s Employment Report.
Median forecast (of 34): +198k; last +201k.

10:00: ISM non-manufacturing index (April): Stable. We expect that the non-manufacturing ISM index was about unchanged in April at 57.5. We will be watching the employment component closely for any evidence that job gains in service-providing industries have slowed.
GS: 57.5; median forecast (of 73): 57.5; last 57.3. 

11:00: POMO Closes, today it is a micro $1-2 billion in TIPS.

15:30: San Francisco Fed President John Williams gives his first monetary policy speech as bank president. The title of the speech is “Maintaining Price Stability in a Global Economy”, and therefore may touch on commodity prices, exchange rates, and related issues. Q&A scheduled.
 
16:00: Dallas Fed President Richard Fisher on the economy. Q&A scheduled.
 
19:00: Atlanta Fed President Dennis Lockhart on the economic outlook. Q&A scheduled.

Via GS

 

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Wed, 05/04/2011 - 07:50 | 1237362 anynonmous
anynonmous's picture

this is a useful link for eco data

http://www.bloomberg.com/markets/economic-calendar/

Wed, 05/04/2011 - 07:56 | 1237377 Cash_is_Trash
Cash_is_Trash's picture

Only $1 - $2 billion in debt monetization? Sheesh, that's nothing!

That's only the value of the Time Warner Center in NYC.

These monetizations are so fucking massive!

Wed, 05/04/2011 - 08:01 | 1237381 oogs66
oogs66's picture

Don't let the Fed speeches influence you.  No matter what they say they are going to unanimously support Ben.

Wed, 05/04/2011 - 08:06 | 1237390 SilverIsKing
SilverIsKing's picture

Thank you sir, may I have another. www.youtube.com/watch?v=qdFLPn30dvQ

Do NOT follow this link or you will be banned from the site!