Today's Economic Data Docket - It's All About The NFP

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Fri, 05/06/2011 - 07:28 | 1246694 anynonmous
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Rosie on Bloomberg Radio now savoring the commodity crash

Fri, 05/06/2011 - 07:23 | 1246697 EscapeKey
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Don't forget that the markets yesterday went down by 140 points. That alone should be justification for a 200 point rise today.

Fri, 05/06/2011 - 07:30 | 1246706 oogs66
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maybe today can be Freaky Friday and bad news would actually be bad news.

Fri, 05/06/2011 - 07:45 | 1246722 Sandy15
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Now that just made me laugh.........

Fri, 05/06/2011 - 07:42 | 1246719 Bazooka
Bazooka's picture

NFP miss, stocks will go up, NFP beat, stocks will go up.

Do you see the insane similarity to this?

Economy improves, silver will be in more industrial demand; if economy sinks, investors wanting save haven will buy more can't go down.

One word: ZANNY!

Fri, 05/06/2011 - 07:45 | 1246721 Cdad
Cdad's picture

Isn't the important NFP report issue last month's revision?  Isn't that where the "surprise" will be?

Fri, 05/06/2011 - 07:51 | 1246734 Shocker
Shocker's picture

We are in a recovery, so I see no reason we don't rally today. ahhahah

Fri, 05/06/2011 - 08:09 | 1246779 Cole Younger
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Unemployment is going to be higher come June (at least in California). Teachers and assistance are being laid-off. It also looks like state run pre-school and head start programs will be gone.

Fri, 05/06/2011 - 08:12 | 1246786 r101958
r101958's picture

I wouldn't be surprised if the UE rate comes in at 9.1 or 9.2. Perhaps that is the real reason for all this market turbulence. Pricing in the UE report already.

Fri, 05/06/2011 - 08:19 | 1246797 X. Kurt OSis
X. Kurt OSis's picture

I'm not so sure we're going to get QE3 and if we do, whether it will matter at all.

We are probably in the top of the fourth inning in this economic experiment. This will likely be a debate carried on by future Keynsian asshat professors, but this is where the rubber will meet the road. Is it the absolute size of the Fed's balance sheet or the rate of change.

QE2 was less effective because the change rate was smaller than the first QE so far less stimulus which is filtering into economic data now. QE2.5 will be marginal relative to the Fed's balance sheet, so no stimulus at all. But the Fed's balance sheet is so large now that QE3 would have to bigger than everything done thus far combined which they probably don't have the political will to do.

You heard it here first, the Fed is shooting blanks at best just hoping the noise will scare the markets higher.

Eventually people will figure this out and which will lead to total systemic failure in anything that can be priced in US dollars.

Monetary stimulus is off-line and fiscal stimulus is off the table at this point (politically speaking). The net is gone. Once the markets figure out that the downside risk is officially limitless, its game over.

Fri, 05/06/2011 - 08:34 | 1246859 nantucket
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QE infinity won't matter, the bottom line is that the US govt spends $1.5T more per year than it collects, there aren't enough buyers at these low rates so the Fed had to buy about 75% of the issuance in the past 9 months.  When that 75% buyer steps away, tell me, what's gonna happen to bond prices? 

We can grow our way out of you say.  Wrong I say.  Our economy (GDP) grew to $15T in 1Q11 from $14.5T in 1Q10, so we basically paid $1.5T for $0.5T of growth....SWEET!!!

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