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Today's Economic Data Docket - Imp/Ex Prices And Wholesale Inventories, Ceiling Busting $32 Billion Auction

Tyler Durden's picture




 

Import prices, wholesale inventories and a few speeches from Fed officials. Ceiling busting $32 billion 3 year auction in tow, and second to last POMO in current schedule also on deck.
 
8:30: Import/export price indexes (April). Likely higher. Higher commodity prices and the weaker dollar point to another rise in US import prices. Prices of imports from China have picked up recently (+2.6% yoy), likely reflecting the appreciating yuan and perhaps higher input costs.
Median forecast (of 51): +1.8%; last +2.7%.
 
9:30: Federal Reserve Governor Elizabeth Duke on “Fostering Innovation in Community Development Finance”.
 
10:00: Wholesale inventories (March): Revisions to GDP? In its advance estimate of Q1 GDP, the Department of Commerce assumed that wholesale inventories increased by about 0.9% mom in March. If the reported value differs significantly from that level it would imply revisions to Q1 GDP.
Median forecast (of 29): +1.0%; last +1.0%.

11:00: Second to last POMO ($5-7 billion 05/15/2015-10/31/2016) before current schedule is exhausted. New schedule is released tomorrow at 2 pm.

12:45: Richmond Fed President Jeffrey Lacker on the economic outlook. Q&A scheduled.

13:00: $32 billion 3 year auction (no QE3 Cusip this time) which may just push total debt over the ceiling absent some dramatic cuts to other total debt holdings.

Via GS and ZH

 

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Tue, 05/10/2011 - 07:59 | 1258526 digitlman
Tue, 05/10/2011 - 08:11 | 1258563 rokakoma
rokakoma's picture

I love these kind of articles.

"S&P went up 13.5% since QE2"
... well, yes, if you compensate it with DXY, it went ZERO.

My 2nd favorite is payroll. "Up 244k"
... well yes, but total employed actually down 190k.

spinning and headlines can maintain the "let's pretened economy"

 

... fow a while ...

Tue, 05/10/2011 - 08:03 | 1258539 oogs66
oogs66's picture

You missed NFIB Small Business Optimism.  Whatever that is.  But it disappointed and is now back below levels from October.  But birth/death reflected 175,000 jobs created by forming new business?

Tue, 05/10/2011 - 08:13 | 1258574 Boilermaker
Boilermaker's picture

We're back into "pump even in the face of contrary common sense" mode.

Their not about to stop this bullshit just yet.

CBMS just reported record high delinquencies.  Guess what's up huge in pre-market (again) and going to crack new 52 week highs.

Tue, 05/10/2011 - 08:22 | 1258604 buzzsaw99
buzzsaw99's picture

Ironic that there is still a huge pile of bennie bux. Fight over it boyz!

Tue, 05/10/2011 - 08:38 | 1258653 CPL
CPL's picture

There are only a couple moer sheets left on the roll and you guys are going to have to fight over them.

Tue, 05/10/2011 - 10:05 | 1258943 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Please exit the theatre in an orderly fashion.  Bill Gross' Total Toilet Paper fund will help you once you reach the lobby.

Tue, 05/10/2011 - 08:56 | 1258698 Firing Pin
Firing Pin's picture

What is Bernanke's QEII? Is he a shipbuilder?
Are we setting sail?

 

Also, enough of these negative math questions. They should ask how many oz. are in a $1000 Face Bag or how many times the CME raised silver margins.

 

Tue, 05/10/2011 - 09:32 | 1258850 gofigure
gofigure's picture

 

Badgets, we don’t need no stinkin badgets…

 

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