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Today's Economic Data Docket - Even More Fed Speeches And ADP

Tyler Durden's picture




 

Just the ADP report today on the docket, while the Fed's hawks will be on parade once again after being let out last week, with Hoenig, Lacker and Bullard spreading the anti-QE3 gospel. In the meantime a $6.5 billion POMO will close at 11am EST.

8:15: ADP employment report (March): Sizable increase. Over the last six months, growth in the ADP measure of private employment has closely matched growth in the official BLS count (ADP has risen by an average of 148,000 per month, whereas the BLS series has increased by 140,000 per month). Consensus forecasts for a gain of 208,000 in the ADP report this morning therefore look broadly consistent with expectations for Friday’s Employment Report. Note however that while the average growth rate between the two series has been close, the gap can still be quite large in any given month.
Median forecast (of 25): +208k; last +217k.

11:00: POMO Closes, Fed monetizes another $5.5-$7.5 billion of 10/15/2013 – 02/28/2015 bonds, meaning the just issued 912828PZ7 will likely be spat out by the Primary Dealers

13:30: Kansas City Fed President Thomas Hoenig speaks at the London School of Economics. Q&A scheduled. He is not currently a voting member of the FOMC.
 
14:00: Richmond Fed President Jeffrey Lacker
testifies before a House Financial Services subcommittee hearing on the economic impact of regulatory reform. Mr. Lacker is not currently a voting member of the FOMC; his next turn comes in 2012.
 
16:00: St. Louis Fed President James Bullard
speaks on “US Monetary Policy and the Path to Normalization”. Given the topic of the speech, expect Mr. Bullard to reiterate some of his comments on the need to turn policy attention toward tightening. He is not currently a voting member of the FOMC.

 

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Wed, 03/30/2011 - 07:50 | 1116293 spanish inquisition
spanish inquisition's picture

Fed speak is bullish. You should have enough Fed speeches and trade by quantifying how much increase the market will have based on the person and type of speech given.

Edit: You could say it is like a market "Bolero"

Wed, 03/30/2011 - 07:53 | 1116311 living on the edge
living on the edge's picture

It's all a big game. Let's hope the fed gets exposed for the fraud it really is.

Wed, 03/30/2011 - 08:02 | 1116324 spanish inquisition
spanish inquisition's picture

We must of touched a troll nerve... Now that we are junked I wonder I was really on to something?

Wed, 03/30/2011 - 08:09 | 1116340 Cash_is_Trash
Cash_is_Trash's picture

Get ready to take QE3 in through the backdoor.

Nobody expects the POMO inquisition!

Wed, 03/30/2011 - 08:16 | 1116307 oh_bama
oh_bama's picture

ZH posted as if the Fed speeches and ADP still matter. I am not sure why those matter anymore..

REMEMBER:

  • ADP MISSEed DUE TO JAPAN AND WEATHER!!
  • SINCE INFLATION IS WAY TOO LOW THE FED MUST DO QE3 TO FIX DEFLATION!
  • BERNAKE SAID Volatility Variable Won’t Hurt!!

 

Wed, 03/30/2011 - 08:49 | 1116434 Ruffcut
Ruffcut's picture

Even the bullshit matters to some extent, because most of it is bullshit anyway.

The fedfarts think they display more transparency when their lips are moving.

Victims of rape find it more soothing, when their attacker is comforting them.

Wed, 03/30/2011 - 07:55 | 1116315 Snidley Whipsnae
Snidley Whipsnae's picture

Why listen to bs from the Feds lips when watching what they do is such an infuriating experience?

Having to listen to the SOBs is too much.

I don't believe one word they utter.

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