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Today's Economic Data Docket - Trade Balance, JOLTS, New POMO Schedule, More Bond Issuance

Tyler Durden's picture




 

Today, we get the March trade balance and JOLTS reports. Also, the Treasury continues its exercises in debt ceiling breach by issuing another $24 billion in 10 Year notes, while the Fed explains its monetization intentions for the next month as it releases the latest POMO schedule at 2 pm EDT.
 
8:30: The US trade balance (March): Oil price effect. We forecast that the trade balance widened to -$48bn from -$45.8bn last month as higher oil prices pushed up the nominal value of petroleum imports. In its advance estimate of Q1 GDP, the Commerce Department also assumed a sizable widening of the trade balance.
GS: -$48bn, median forecast (of 72) -$47bn; last -$45.8bn.
 
10:00 JOLTS (Job Openings and Labor Turnover Survey) (March). The monthly JOLTS report includes data on gross labor market flows, and therefore provides more detail on current job conditions than the timelier Employment Report. The improvement in private payroll growth suggests the report may show increased job openings and hiring activity. The data in the report is probably too old to determine the cause of the recent rise in jobless claims.
 
12:15: Atlanta Fed President Dennis Lockhart on the economic outlook.
 
13:00: Minneapolis Fed President Narayana Kocherlakota on “Some Contingent Planning for Monetary Policy”. Q&A scheduled.
 
13:00: Cleveland Fed President Sandra Pianalto on the economic outlook and monetary policy. Q&A scheduled.

13:00: Treasury issues another $24 billion in 10 Year bonds. Unclear how these will settle under the debt ceiling

14:00: The US budget balance (April). The CBO estimates that the April budget deficit declined to $41bn from $83bn in the same month last year. The reduction mostly reflects a substantial improvement in tax receipts, and particularly non-withheld personal income and payrolls tax payments.
CBO -$41bn; median forecast (of 25) -$41bn; last (April 2010): -$83bn.

14:00: Fed releases new POMO schedule at 2:00 pm

from GS and ZH

 

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Wed, 05/11/2011 - 07:54 | 1262237 HelluvaEngineer
HelluvaEngineer's picture

Now that the ceiling and all other constraints on government have been rendered irrelevant, why not really crank POMO?  100 billion a day ought to do it.

Wed, 05/11/2011 - 07:56 | 1262242 magpie
magpie's picture

First, the deficit of a few hours is covered by the sale of AIG shares to American patriot investors.

Wed, 05/11/2011 - 08:24 | 1262311 Tortfeasor
Tortfeasor's picture

Debt ceiling manipulation is another item labelled "Shit I'd love to see explained, but never will".  Very interested to know what frauds they will be pulling off in the next few weeks to keep us below the "ceiling".

Wed, 05/11/2011 - 08:04 | 1262248 Cash_is_Trash
Cash_is_Trash's picture

Trade surpluses are such a thing of the past. (!)

Wed, 05/11/2011 - 09:17 | 1262491 uhb
uhb's picture

yeah, they are so 1982.....

Wed, 05/11/2011 - 08:15 | 1262285 squexx
squexx's picture

Pre-jolt information, PM's are heading down.

Wed, 05/11/2011 - 08:28 | 1262323 Tortfeasor
Tortfeasor's picture

Setting up for another FUBM

Wed, 05/11/2011 - 08:31 | 1262332 squexx
squexx's picture

FUBM?!?!?

Wed, 05/11/2011 - 08:17 | 1262288 lolmao500
lolmao500's picture

I guess they are getting the money to buy treasuries from the pension funds.

Wed, 05/11/2011 - 08:35 | 1262345 Sandy15
Sandy15's picture

that is just funny.........  you are right, so I had to laugh at the comment!!

Wed, 05/11/2011 - 08:24 | 1262307 Cursive
Cursive's picture

Maybe they are waiting for Friday the 13th or something.

Wed, 05/11/2011 - 08:28 | 1262315 augie
augie's picture

I thought it was the 11th of the month that is discounted from monthly data?

Wed, 05/11/2011 - 08:28 | 1262322 Urban Roman
Urban Roman's picture

8:00 Round II of Silver Bear Raid ...

Wed, 05/11/2011 - 08:37 | 1262343 oogs66
oogs66's picture

the spin is out already.  U.S. Exports in march rise to record 172.7 billion.   Trade balance ex petroleum products drops to 16.9 billion from 20 billion.

 

please ignore the headlines, only what we tell you matters, matters

Wed, 05/11/2011 - 08:44 | 1262366 SP666_IsComing
SP666_IsComing's picture

All news everywhere now is completely worthless and irrelevant except for ONE!

Comet (falling angel) Elenin is coming Sept 27, 2011.  Comet Elenin will be the mightiest of all the angels (comets).  It will try to overpower God (the sun), fail, be banished, and literally fall to earth.  This comet is the origin of all the old myths about the mightiest angel who fell from grace, banished by god (the sun), and fell to earth … better known to everyone as Lucifer.

This comet’s vapor trail is saturated with dust and it will sweep and engulf the earth in October (the falling angel!).  The massive vapor and dust tail will create enormous rainclouds for DAYS all over the world!!  Water levels will rise EVERYWHERE!

A biblical flood is coming in October!  This is not a joke. This is not a test.

SP-666 will be taken out before October! 

Bankster criminals, murderers and thieves (and all their ilk) have kept this “little” event secret for centuries within their stupid childish secret society cults. For nothing but pure greed and hatred for the rest of humanity, sheeple and markets have been lied to and manipulated for millennium so those greedy little devils … “chosen people” can “inherit the earth” after this event.  They are stealing and raping everyone now to accumulate every last ounce of gold (money) before October.

Financial market schizophrenic meters are off the charts due to the planning for this event!

Wake up world. Protect yourselves. Take appropriate positions, profit from those evil worshippers, survive, and take back some of that stolen bankster booty!

 

Wed, 05/11/2011 - 13:47 | 1264010 woodashes
woodashes's picture

since spending and bond issuance is completely disconnected from consequence and relevance to taxation why not just end taxation completely.

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