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Today's Economic Data Docket - Initial Claims, PPI And More Fed Speech-Induced Confusion

Tyler Durden's picture





 

Today's docket: Initial claims, March PPI and the fed Fed speaker obfuscation brigade is back. As usual the Treasury issues debt and the Fed monetizes it.
 
8:30: Jobless claims (Week of April 9): Likely lower. Hiring activity should continue to improve, gradually reducing new benefit claimants.
Median forecast (of 49): 380,000; last: 382,000.
 
8:30: Producer Price Index (March): Further gains. Rising prices of both gasoline and food point to another increase in the headline PPI. The core index also looks likely to move higher. Yesterday’s Beige Book noted that manufacturers were having an easier time passing through input cost increases into the prices of finished goods.
On headline, median forecast (of 76): +1.0%; last +1.6%.
On core, median forecast (of 71): +0.2%, last +0.2%.
 
9:00: Federal Reserve Governor Elizabeth Duke on “Credit Conditions for Small Businesses”. Q&A scheduled.
 
9:20: Minneapolis Fed President Narayana Kocherlakota on economic development. Q&A scheduled. Mr. Kocherlakota is a voting member of the FOMC this year.

11:00: $6-8 billion POMO closes, Fed monetized debt due 05/15/2018-02/15/2021

12:30: Philadelphia Fed President Charles Plosser on “State of the US and World Economies”. Mr. Plosser is a voting member of the FOMC this year.

13:00: Treasury Sells $13 Billion 30 Year Debt (29-Year 10-Month 4-3/4% Bond Reopening)
 
13:15: Federal Reserve Governor Daniel Tarullo on “High-wire Act: Balancing Growth and Inflation”. Q&A scheduled.
 
18:45: Richmond Fed President Jeffrey Lacker speaks at University of Baltimore.
 

 


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Thu, 04/14/2011 - 07:30 | Link to Comment Sudden Debt
Sudden Debt's picture

Table 2 just ordered a Smokescreen

 

 

Thu, 04/14/2011 - 07:31 | Link to Comment oogs66
oogs66's picture

Is it just me, or have more and more Fed speakers started to argue that you cannot have inflation without wage inflation?  Maybe I'm just paying more attention, but it seems that in the past 2 weeks, the doves are trotting out this argument? 

Thu, 04/14/2011 - 07:43 | Link to Comment Sudden Debt
Sudden Debt's picture

right. We can't have inflation untill they so.

It's like the wise saying that says:

I you fool around in another timezone, it's not cheating.

and as they are now living on another planet...

 

 

Thu, 04/14/2011 - 07:53 | Link to Comment oogs66
oogs66's picture

next time zone?  damn, I thought it wasn't cheating if it was another town, I might be in trouble

Thu, 04/14/2011 - 10:38 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

If your plan is to lower living standards 30%, then you can have 6 years or so of 5% inflation without wages budging an inch.

If this bothers you, please write your Congressperson.

Thu, 04/14/2011 - 07:34 | Link to Comment tek77blu
tek77blu's picture

good commentary on the cheap, cheap levels of uranium stocks after japan crisis: http://www.youtube.com/watch?v=f-EkkhJi9VY

Thu, 04/14/2011 - 07:39 | Link to Comment Cdad
Cdad's picture


"Bahrain to seek court approval to dissolve main Shiite opposition party - State news agency via Reuters"

Tyler, I only see the headline so far, but thought you might be interested.

http://www.breakingnews.com/seed/ahBicmVha2luZ25ld3Mtd3d3cg0LEgRTZWVkGIqOggMM/2011/04/14/bahrain-to-seek-court-approval-to-dissolve-main-shiite-opposition-party-state-news-agency-via-reuters

 

Thu, 04/14/2011 - 07:49 | Link to Comment Cdad
Cdad's picture

Oh shit, Tyler!  Never mind about Bahrain.

"Apple Suppliers Begin Making White iPhones"

We all know what it means.  It is now truly time to stock up on ammunition and whiskey.  Might want to invest in a machete, too. 

http://news.yahoo.com/s/nm/20110414/tc_nm/us_apple

"Apple Chief Executive Steve Jobs first unveiled the white version of the smartphone when the iPhone 4 was launched in June last year, but it has been delayed because of a manufacturing issue that the company has not elaborated on."

Everyone knows that the white iPhone will be the cause of people everywhere suddenly developing a curious penchant for human flesh.  Watch those headlines, "Man bites _________." 

Stay out of malls and steer clear of  5430 LBJ Freeway, Dallas, TX 75240

"TiO2 is an inorganic pigment used to impart whiteness, brightness and opacity for products, such as coatings, plastics, paper, fibers, food, ceramics and cosmetics. In addition, TiO2 has resistance to interaction with other chemicals, thermal stability and resistance to ultraviolet degradation. The Company ships TiO2 to its customers in either a powder or slurry form via rail, truck or ocean carrier." 

Uh huh...sure.

Sell KRO and, of course, AAPL.

Prepare for the zombie apocalypse, my ZH brothers.  Hell of a world.

http://www.zombiehub.com/zombietaxonomy.html  

 

Thu, 04/14/2011 - 08:07 | Link to Comment Cdad
Cdad's picture

And if Bahrain and the coming zombie apocalypse are not enough for you, plus the China property bubble pop, this morning DC reveals that it has opened a new front on the war against bankers.  This ought to be good.

War on bankers, bitchez!

 

Thu, 04/14/2011 - 08:18 | Link to Comment Strategery
Strategery's picture

That's right. Money laundering through the primary dealers.

Thu, 04/14/2011 - 08:29 | Link to Comment oogs66
oogs66's picture

How are they going to spin this data as positive?  412K

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