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Today's Economic Data Highlights

Tyler Durden's picture


Empire index, TICS, builder sentiment, and the weekly confidence poll….Most importantly, it seems that the only thing that matters, is that POMO is back, although we have just a piddling $1-2 billion in Sack Frost initiated AMZN purchases by way of TIPS monetizations.
8:30: Empire Index for Jan…confirming the rebound?  This index fell sharply in November, setting off concerns that industrial activity might be flagging, but then bounced back in December.  Economists expect a modest pickup from the December level.
Median forecast (of 48): +13, ranging from +5 to +20; last +10.57.  
9:00: TICS net inflows for Nov…Median forecast (of 4): +$40bn, ranging from +$20.5bn to +$40bn; last +$27.6bn.
10:00: Housing market index for Jan….still at a very low level?  This index has wallowed for the past three and a half years in a sub-20 range that seemed unthinkable prior to the crash that occurred earlier in this decade.  Only once in that period did it poke briefly above this level.  That was in the aftermath of the homebuyer tax credit.  Nobody expects a change in this lassitude.
Median forecast (of 41): 17, ranging from 15 to 18; last 16.
17:00: ABC consumer comfort index…breakout?  This index finally cracked its 2½ year -41 resistance level, rising 5 points to -40 last week.  However, this contrasts with a mild setback reported for the Reuters/Michigan survey for early January.

Via Goldman Sachs


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Tue, 01/18/2011 - 08:14 | Link to Comment Sudden Debt
Sudden Debt's picture

Water for Oil:

In Belgium, Fluxys will build a ship to transport fresh water to Quatar in exchange for oil.


The Tunesia effect:

The Emir of Kuwait will give to every citizen 1000 dinar (3600 dollar) as a present for his birthday so the citizens won't realize how rich he is and how poor they are. Would Obama do the same on his birthday?



Americans can't buy shares, only foreigners.



Tue, 01/18/2011 - 08:16 | Link to Comment Boilermaker
Boilermaker's picture

Golly, for the Nth time in a row, I went to bed with negative futures and woke up to find them snuggly in the 40 to 60 range on the Dow and 3 - 5 handles on the SPX.  That's so fucking wierd.  Grandma must be buying the shit out of the futures during the wee hours, again.

This is such a joke that it's sickening.

Tue, 01/18/2011 - 08:50 | Link to Comment John Law Lives
John Law Lives's picture

The hangover will be that much more painful when the Fed is forced to stop QE... and it will be forced to stop QE when food and energy prices reach the point of destabilizing governments (e.g. Tunisia).

The unemployed folks in the US do not "feel" better because the BLS claims the U-3 unemployment level dropped to 9.4%.  Pumping equities is an act of desperation.  It will come to a brutal end.  Who knows when the end will come.

Tue, 01/18/2011 - 09:08 | Link to Comment Sudden Debt
Sudden Debt's picture

after QE when the markets drop il will be without any clear reason for those 99.99% who don't even know what QE is or that it exists.

Tue, 01/18/2011 - 10:03 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

QE will continue... There is no other way to get out the U.S. debt trap without monetizing the debt.

As you all know, we are bankrupt and Tim, Ben & Team O will not publicly admit it. Therefore, the monetization will continue as the can is punted down the road and the currency is turned to wallpaper.

QEdiscreet is coming up next, the debt monetization machine will keep chugging along.

The debt ceiling will be raised again.

Tue, 01/18/2011 - 08:27 | Link to Comment snowball777
snowball777's picture

"Sony Corp. (6758.TO, SNE) will shut down a CD manufacturing plant in New Jersey around the end of March as demand for the media is dwindling amid the rise in online music downloads, company officials said Tuesday, Kyodo News reported."


And still no mention of the complete failure of their DRM on the PS3 beyond injunctions against hackers.

Tue, 01/18/2011 - 08:30 | Link to Comment duo
duo's picture

"American Idol" starts again this week.  What evil awaits us from Washington as the people are distracted?

Tue, 01/18/2011 - 08:50 | Link to Comment zx12r
zx12r's picture

Evil emanating from Washington is at an all time high. And it's no bubble.

Tue, 01/18/2011 - 08:45 | Link to Comment John Law Lives
John Law Lives's picture

But Ben said there was no inflation...

Is there a pathological liar in the house?

Tue, 01/18/2011 - 09:10 | Link to Comment Sudden Debt
Sudden Debt's picture




Tue, 01/18/2011 - 09:11 | Link to Comment Sudden Debt
Sudden Debt's picture

actually not true if you take the "carbon taxes" into account...

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