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Today's Economic Data Docket - The Beige Book And More Ten Years
A beige book and a bond auction.
11:00: New York Fed to monetize bonds due 06/30/2015 - 11/30/2016
11:30: Treasury to auction $15 billion in 6-Day CMBs
13:00: Treasury to auction $21 billion reopening in 10 year bonds
14:00: Federal Reserve’s Beige Book. In light of the unexpected weakness in activity data over the last two months, the Fed’s Beige Book report may take on added importance. In the last survey—which covered late Q1—the report said that “economic activity generally continued to improve”. It added that while improvements were only moderate, “gains were widespread across sectors”. We expect a significantly more downbeat tone in today’s release. Consistent with Chairman Bernanke’s remarks yesterday, the report will likely note that the recovery has continued but growth has slowed.
14:20: Kansas City Fed President Thomas Hoenig in Steamboat, Colorado.
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More concerns about commodity inflation . . .
Well, this quarter all the jobs added came from McDonalds... so this could be interesting.
I wonder how the Bernanke will spin that...
The McConemy is showing signs of life!
These auctions are being done by them taking from the Government retirement investments. What happens when that is gone? All these government employees will not get their retirements in the future.
No recovery here. Move along, nothing to see here, move along.
What's the odds that the beige book will say the economy is in the "turlet"?
When do they admit that shrinkage has begun?
"Slow growth" ≠ negative growth.
I'm sure this is the day that Ben Bernanke will apologize for burning his share of $7 trillion USDs in an attempt to save those things that should not have been saved. I say this in the event that the significance of this release is lost on folks.
Mr. Bernanke...it is long past time to resign.
The Fed will warn "removing fiscal stimulus will severly harm the economic recovery".
The Beige book is a joke. It's to economic analysis as a greeting card is to literature. And like a greeting card it's only purpose is to put a smile on faces before being thrown away.