Today's Economic Data Highlights

Data on producer prices, international capital flows, industrial production, builder sentiment, and one Fed speech.  Also, throughout the morning CNBC will be airing portions of an interview with New York Fed President William Dudley. $4-6 billion POMO will close at the usual time.
 
8:30: Producer price index for Oct…another energy-led increase? We expect energy price increases to dominate an otherwise benign report on producer prices.  Other estimates are reasonably consistent with our view on core, but they range all over the map on headline.
On headline, median forecast (of 76): +0.8%, ranging from +0.4% to +1.4%; last +0.4%.
On core, median forecast (of 72): +0.1%, ranging from -0.2% to +0.3%, last +0.1%.
 
9:00: TICS long-term inflows for Sep…
Median forecast (of 4): +$62.5bn, ranging from +$40bn to +$75bn; last +$128.7bn.
 
9:15: Industrial production and capacity utilization for Oct…a rebound?  We expect a robust gain in industrial production following a somewhat surprising dip in September.
On production, median forecast (of 78): +0.3%, ranging from flat to +0.7%; last -0.2%.
On capacity utilization, median forecast (of 54): 74.9%, ranging from 74.7% to 75.4%; last 74.7%.
 
10:00: Housing market index for Nov….another tick up? Analysts look for a small additional gain after October’s 3-point increase.  The index continues to languish in a low range, reflecting the effects of a large overhang of existing supply on sales and construction of new homes.

Median forecast (of 51): 17, ranging from 15 to 18; last 16

11:00: Second POMO of the week... this one will monetize $4-6 billion of bonds maturing between 5/31/2012 – 5/15/2013. Market better close green or three red POMO days in a row will break the stat arb enchantment with POMO

17:00: ABC consumer comfort index…It’s been bouncing between -47 and -45 lately, last at -46.
 
19:15: Atlanta Fed President Dennis Lockhart speaks on the economy….at the Alabama World Affairs Council in Montgomery.  Lockhart has been supportive of the FOMC’s recent decision to buy long-term assets.   He is not currently a voting member of the FOMC; his next turn comes in 2012.
 
Goldman Sachs

Comments

[gwar5]

We've become POMOsapiens.

[sumo]

... waiting for the Fed to ejaculate more POMOsap.

[snowball777]

Constant Open-Market Action

[Tense INDIAN]

Indian markets have been seeing HEAVY sell--offs......this is almost the 4th time BSE have seen 400 points sell-off after Highs reached on November 4......whatever happened to QE2-will-set-EMs-on-fire

http://money.rediff.com/

[snowball777]

Welcome to the 1st world.

[Arius]

Dudley seemed like someone who is going crazy...these appearances are the last tricks which make the situation worse probably, because people can read through.

[McMia]

Just curious. Since the EU seems absolutely bound and determined to shove bailout money down Ireland's throat - Who stands the to gain the most from thes coersive actions? -

Thanks...

[FunkyMonkeyBoy]

Don't forget, when a 'country' receives a bailout, it is in fact it's creditors that are being bailed-out, not the country itself. And the creditors are usually big banks and other countries.

It's basically the usual convert way of transferring wealth to the few (the already wealthy who engineered these problems in the first place) at the expense of the many (the people, who did nothing wrong).

[sumo]

Have a heart and spare a thought for those struggling French and German bankers holdling Irish debt. How are they going to finance their new, formerly Greek, islands in the Agean?

[snowball777]

I'd say the bondholders will fare much better with a bailout...the rest of the EU, not so much.

[99er]

Charts

http://www.zerohedge.com/forum/99er-charts

Good luck, folks.

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