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Today's Economic Data Docket - The Beige Book And More Ten Years

Tyler Durden's picture




 

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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Wed, 06/08/2011 - 07:53 | 1350085 Highrev
Highrev's picture

More concerns about commodity inflation . . .

Wed, 06/08/2011 - 07:55 | 1350091 ParaZite
ParaZite's picture

Well, this quarter all the jobs added came from McDonalds... so this could be interesting. 

I wonder how the Bernanke will spin that...

Wed, 06/08/2011 - 08:49 | 1350252 WALLST8MY8BALL
WALLST8MY8BALL's picture

The McConemy is showing signs of life!

Wed, 06/08/2011 - 08:03 | 1350111 Sandy15
Sandy15's picture

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.

Wed, 06/08/2011 - 08:12 | 1350132 PaperBear
PaperBear's picture

No recovery here. Move along, nothing to see here, move along.

Wed, 06/08/2011 - 08:30 | 1350186 Fox-Scully
Fox-Scully's picture

What's the odds that the beige book will say the economy is in the "turlet"?

Wed, 06/08/2011 - 08:30 | 1350187 Urban Roman
Urban Roman's picture

When do they admit that shrinkage has begun?

"Slow growth" ≠ negative growth.

Wed, 06/08/2011 - 08:47 | 1350231 Cdad
Cdad's picture

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.

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.

Wed, 06/08/2011 - 09:16 | 1350335 alexdg
alexdg's picture

The Fed will warn "removing fiscal stimulus will severly harm the economic recovery". 

Wed, 06/08/2011 - 09:52 | 1350516 AcidRastaHead
AcidRastaHead's picture

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.

 

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