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Today's Economic Data Highlights

Tyler Durden's picture




 

Claims, inventories, the federal budget balance, and the Fed’s balance sheet….
 
8:30: Unemployment insurance claims
….a small improvement?  Abstracting from weekly volatility, both initial and continuing claims are on modest downward tracks.  Forecasters expect this report to extend these trends closer to the average of recent weeks.
For initial claims, median forecast (of 51): 410k, ranging from 385k to 450k; last 415k.
For continuing claims, median forecast (of 16): 3.9 million, ranging from 3.88mm to 3.97mm; last 3.925mm.

10:00: Wholesale inventories for Dec…a moderate increase?  These inventories are goods that are essentially in transit from factories or from the docks to final destinations such as retail outlets and are therefore difficult to forecast, and they have been quite volatile of late.  For example, they rose 1.7% in October but fell 0.2% in November.  The median increase is about one-half of what the Commerce Department assumed in its preliminary GDP estimate for the fourth quarter.
Median forecast (of 35): +0.7%, ranging from -0.4% to +1.8%; last -0.2%.
 
14:00: The US budget balance for Jan…better than a year ago, once corrected for calendar quirks.  The CBO estimates that the US Treasury ran a $53n deficit in January.  This is $10bn larger than in January 2010, but $16bn smaller once special calendar effects are taken into account.  This would bring the four-month fiscal-year total to $424bn., versus $431bn at the same point in FY 2010.
CBO -$53bn; median forecast (of 29) -$55bn, ranging from -$70bn to +$60.5bn; last (Jan 2010): -$42.6bn.
 
16:30: Federal Reserve balance sheet….Last week the balance sheet expanded by nearly $26bn.  It is closing in on $2.5trn, on its way to what we expect will be about a $2.9trn level by the time the asset purchase program is done in June.
 
Via Goldman

 

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Thu, 02/10/2011 - 08:15 | 948817 primefool
primefool's picture

Can the stock market stay at these levels even ONE day without POMO? I guess we'll find out today!!

Thu, 02/10/2011 - 10:24 | 949073 I Am The Unknow...
I Am The Unknown Comic's picture

sure....it's a Thursday, and that means an extra 25 Bn just laying around.

Thu, 02/10/2011 - 08:18 | 948818 HelluvaEngineer
HelluvaEngineer's picture

Major black swan?:  http://www.cnbc.com/id/41491498

 

Will Sack get away with his shenanigans in global markets?  Will American companies enjoy international accounting standards?

Thu, 02/10/2011 - 08:34 | 948838 French Frog
French Frog's picture

A new POMO schedule exactly at the same time as the US budget balance for January ! That could not be because if the budget news is bad at least the PD will know when to rejoice over the next months ? Could it?

Thu, 02/10/2011 - 09:03 | 948862 Zero Govt
Zero Govt's picture

Catch up on European Index news lads..

...FTSE down 0.83%, CAC down 0.78%, DAX down 0.42%, EuroStox50 down 0.96% and Spain down a whopping 1.96%

that's a bit of a downer, here's the bummer..

Gold down 0.54%, Silver down 1.35%, Palladium down 0.90% and EUR/USD Up 0.80% to $1.362

We're having a bit of a sell-off today, let's see how you across the pond deal with that lot of negativity.... over to you Uncle Sam 

Thu, 02/10/2011 - 09:08 | 948891 Cash_is_Trash
Cash_is_Trash's picture

Zero Govt,

Our nation is just as fucked as yours.

Regards,

Broke American Taxpayers

Thu, 02/10/2011 - 10:31 | 949039 Zero Govt
Zero Govt's picture

it's hard when you're being fked to know by what degree but for the record, Americas larger paper-debt mountain means you'll be aching a bit more than Europeans!

The key though is when we all start 'Dancing like Egyptians' in the streets wether your taxpayers or ours dismantle the 'hook' known as State taxation (the right of the parasites to rob its citizens). I've a feelling you Yanks will be better at getting off the vast sums the politicians have billed to you and your children (and childrens children if these 100 Yr T's get off the ground!) 

It would be an awful waste of a Revolution if everything the politicians and bankers had pissed away was still hanging over citizens heads rather than sent to the perpetrators to settle 

So here's to the Revolution and the parasites paying their own fuking bills when the dust settles

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