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US Macro Data Plunges Most In 10 Months

Tyler Durden's picture


The last two weeks have not been pretty for the 'it's different this time' crowd. Day after day has brough miss after miss in macro-economic data for the US; from PMIs to NFPs, no matter how hard you try, there is not even enough for an 'anecdotal' strategist to pin his BTFD thesis on. Quantitatively, the US macro surprise index has seen its biggest 10-day drop in 10 months, completely reversing all the 'seasonally-adjusted' difference from the 2011 'Deja-Vu' market and macro behavior. So with the first pillar of bullishness (macro data is 'supportive'), it is up to earnings (but but but profitability is at highs) to hold up the market - good luck with that.


Biggest 2-week drop in macro data in 10 months...


is reverting all the 'seasonally adjusted' green shoots that made this time different from last year...


and once again, just for fun, someone explain how the market is not solely dependent upon the Fed for this to occur?


Charts: Bloomberg


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Fri, 04/05/2013 - 19:56 | 3414825 ACP
ACP's picture

OK, it's late on Friday, you're totally preaching to the choir. Have some tequila shots.

Fri, 04/05/2013 - 19:57 | 3414832 xtop23
xtop23's picture

Now that IS something that is self-sustaining.

Hello Mr. Casa Nobles

Fri, 04/05/2013 - 20:04 | 3414851 derek_vineyard
derek_vineyard's picture

by the time the dow hits 17,500

the 10 year will be 0.00%

Fri, 04/05/2013 - 20:20 | 3414901 Uber Vandal
Uber Vandal's picture

Perhaps -5.00% because people want the safety of the full faith and credit of the United States.


Fri, 04/05/2013 - 22:10 | 3415237 markmotive
markmotive's picture

Our reality is highly levered.

Japan is undertaking an extremely precarious policy. This could be the policy that proves Keynesianism is dead. The world knows this and I think markets are getting scared that reality will bite.

Niall Ferguson on Keynesianism in Japan:

Fri, 04/05/2013 - 23:44 | 3415422 A Nanny Moose
A Nanny Moose's picture

Full faith and credit in the ability of the US Feral Gummint to convince US taxpayers to allow the expropriation of their wealth. Interesting. Back to my beer.

Fri, 04/05/2013 - 20:08 | 3414865 nmewn
nmewn's picture

1800 Silver Reserve...mmm ;-)

Fri, 04/05/2013 - 20:15 | 3414888 tkoski6600
tkoski6600's picture

1800 Silver Reserve, no more.  Now it's Steel Reserve 211.

Fri, 04/05/2013 - 20:26 | 3414920 nmewn
nmewn's picture

lol...I know what you mean.

About this time last week I was sittin in Bubba Gumps on Johns Pass getting lubed up for a special occasion the next night. I tried to be moderate (really I did)...but after one...well, ya know ;-)

Fri, 04/05/2013 - 20:35 | 3414946 ACP
ACP's picture

Bubba Gumps...haven't been there for a while...the one in Monterey. Damn, now I wanna go.

Misson Accomplished: Thread jacked and steered towards booze and heavily battered, deep fried shrimp.

Fri, 04/05/2013 - 20:45 | 3414981 nmewn
nmewn's picture

America Dammit!!!

I had fun flipping the signs around from green to red ;-)

Fri, 04/05/2013 - 22:26 | 3415270 hairball48
hairball48's picture

Johns Pass in St Pete Beach? I lived on Treasure Island 1966-7 61 81st ave. TI

All that was blown away in a later hurricane :)

Fri, 04/05/2013 - 20:15 | 3414889 McMolotov
McMolotov's picture

Ha, due to my extreme frugality, I'm enjoying something called Caliber vodka. $10 from Walmart.

Smells like rubbing alcohol. Tastes like rubbing alcohol. Quite possibly is rubbing alcohol.

Fri, 04/05/2013 - 20:19 | 3414903 onewayticket2
onewayticket2's picture

Let's leave Kitty Dukakis out of this discussion....burp.

Fri, 04/05/2013 - 20:44 | 3414982 ebworthen
ebworthen's picture

Is electro-convulsive shock therapy available over the counter yet?

You know, like those portable defibrillators?

I'd like to clear the calculator.

Fri, 04/05/2013 - 20:23 | 3414918 smlbizman
smlbizman's picture

dude , does it have a flip top lid and a frosted plastic bottle? funny

Fri, 04/05/2013 - 20:30 | 3414927 nmewn
nmewn's picture

It was a special occasion, I thought I'd be taking it home with me cuz nobody was hittin it...having thoughts of dread & delight at the same

Then...I got a little help from my friends and we drained it ;-)

Fri, 04/05/2013 - 20:32 | 3414934 W74
W74's picture

Sure there's no horse meat in there?

Fri, 04/05/2013 - 20:53 | 3415004 TheFourthStooge-ing
TheFourthStooge-ing's picture


Ha, due to my extreme frugality, I'm enjoying something called Caliber vodka. $10 from Walmart.

Caliber® vodka, from the makers of Colt.45 Malt Liquor.

Smells like rubbing alcohol. Tastes like rubbing alcohol. Quite possibly is rubbing alcohol.

Caliper® brake cleaner, from the makers of Caliber® vodka.

Fri, 04/05/2013 - 21:23 | 3415112 McMolotov
McMolotov's picture

It clears pipes better than Liquid-Plumr, and Cousin Jed says it makes a great bear repellent.

Fri, 04/05/2013 - 21:25 | 3415120 stocktivity
stocktivity's picture

Nothing matters...earnings start next week...Alcoa Monday. The cooked earnings this quarter will propel to new highs. It's STILL all Bullshit!

Fri, 04/05/2013 - 20:00 | 3414840 Room 101
Room 101's picture


"Obama budget to take aim at wealthy IRAs"

I'm sure this revelation will surprise ZHers. /s

(H/T Drudge)

Fri, 04/05/2013 - 20:20 | 3414905 ebworthen
ebworthen's picture

A U.S. "financial stability" levy can't be far behind; first for the wealthy, then the rule stick for wealth will be lowered, until anyone with money in an I.R.A. will be considered "able" to contribute to "save the country".

Fri, 04/05/2013 - 20:30 | 3414930 W74
W74's picture

I wonder when masses of 18-26 year olds will be "able" enough to "save the country" with another draft when we go into Iran.

Fri, 04/05/2013 - 20:23 | 3414912 smlbizman
smlbizman's picture

room 101, ...900,000,000.00 a year and "fair"....and taxing those disgusting low life smokers again, another way of punishing the rich........ what more could you want...dat right dare is leadership my friend....

Fri, 04/05/2013 - 20:10 | 3414847 Cdad
Cdad's picture

"...someone explain how the market is not solely dependent upon the Fed for this to occur?"

I'd like to be able to answer in an affirming way.  However, since the DOJ and the SEC are simply not prosecuting criminals within the financial services industry [see Jon Corzine out and about, day trading and the like], and since almost no one in Congress has called out Ben Bernanke for what he is [maker of economic wastelands for the 99%, and a true Banana Tree Republic fan], it just does not seem to matter...that the country is undergoing a fascist coup.  Let's face it, that is what it is.

Interesting thing is....average Joe seems pretty clear on what is making the stock market go up...and remains uninterested in equities...because he won't have the inside information on when Ben just might change his mind...and the entire thing suddenly collapses [see Cyprus].  

I think the answer is Ben is jacking the stock market, Congress is still spending money that can never be repaid, and the two parties don't give a shit how it all looks...because no one has tried to stop their thieving ways.   

Additional:  Oh, and the CEOs of publicly traded companies are laughing all the way to the bank with it all, too, [see insiders selling to beat the band while announcing corporate stock buy backs, further hollowing out the "value" of stocks] lest they think their role in this wealth transfer has gone unnoticed by us average Joes.

Fri, 04/05/2013 - 20:25 | 3414867 ebworthen
ebworthen's picture

Some dude on P.B.S. blaming it on the "digital economy".

Oh yeah, all that off-shored production and the parasitic crony capitalist corporations wouldn't have anything to do with it.  Um-hum.

Sure, idiots scanning and bagging their own groceries and items for ZERO discount (WTF?) doesn't help, but c'mon, drop in the bucket.  I go to the human beings myself.

At least in the transition to self-serve gas you got a discount for pumping it yourself.  Cheap ass S.O.B.'s.

Hey, if the digital economy is here let's just all go on disability - or as much money as the FED seems to have just send us monthly checks so we can shop online.

I'll scan and bag my own groceries if the FED sends me and everyone else $5,000/month, sure.

Fri, 04/05/2013 - 20:42 | 3414975 smlbizman
smlbizman's picture

i always go to the 1 cashier  they have....than i tell them , i do it to try and save their job...they look at me like im fucking nuts,......and the other assholes at the self serve , waitng for the cashier to come and unfreeze their purchase...we do not have any chance what so ever....they have won,. ..  welcome to the USA ...."the most illiterate society in the world" has just dawned on me some possible evidence....we do not protest or throw molotovs or blow up tax offices etc  like they do overseas....this isnt because we are so civil, it is because we have know idea we are being ass raped day in and day out....example; a friend of mine, an engineer, who has earned patents,  his wife, masters and phd......they think i am out of my mind....i dont know how many zerohedgers there are, but take 5% off of the total and thats our army...i could be wrong... 


Fri, 04/05/2013 - 20:56 | 3415012 ebworthen
ebworthen's picture


The people I know are "proud" that they scan and bag their own groceries for no discount; they are "independent" and "self-sufficient". 

WTF?  It's like a Cow or Pig that walks itself through the gate of the slaughterhouse proudly without struggle.

And since it's tax season, people who talk about their "refund" as if it was a gift of some kind.

Yes, even the otherwise intelligent and educated are some of the worst.

The working guys at the pool hall drinking PBR are more aware.

Sat, 04/06/2013 - 01:17 | 3415541 Ham-bone
Ham-bone's picture

one look in the mirror pretty well represents the ZH army...

Sat, 04/06/2013 - 01:39 | 3415547 HardAssets
HardAssets's picture

smlbizman - yep the banksters/gangsters and their paid whore politicians rob us like crazy because they think Average Joe Citiizen is dumber than a box of rocks, and for the most part, theyre right. The 'highly educated' ones are some of the worse. Theyre so very good at 'learning' what's wrong. Most of them are specialists in a very narrow field & completely ignorant of the Big Picture. Mere errand boys&girlls serving the New World Order . . . and completely unaware of that.

Do any bit of research and its crystal clear that the low level of mental capapcity found in the general population is no accident. The teaching of logic/argument, true history, and the foundational priniciples of the country have been attacked purposely since the late 1800s-early 1900s.

Its not all over, but its likely that people will have to go through a Lot of pain before they become motivated enough to wake themselves up from their state of relative comfort.

Fri, 04/05/2013 - 20:14 | 3414880 Yen Cross
Yen Cross's picture

     I'm speechless. every comment  ^  Nailed it.

Fri, 04/05/2013 - 20:20 | 3414897 q99x2
q99x2's picture

"Day after day has brough miss after miss in macro-economic data for the US; from PMIs to NFPs, no matter how hard you try, there is not even enough for an 'anecdotal' strategist to pin his BTFD thesis on."

Well then Fuck it; then we'll just have to Nuke N. Korea and then if it doesn't get any better we'll nuke Iran too. And we'll see if Pakistan would like some of it. Maybe Austin Tx. Fuck it. Just Fuck it Fuck it Fuck it.

Fri, 04/05/2013 - 20:22 | 3414899 W74
W74's picture

Here's my plan, I'm going to do a little test tomorrow:  It's been sunny here and the weather is clearly transitioning to spring without any hickups so far.

I want to get a sense of how the economy is doing overall, so I'm going to take a trip up to the local Lowes to see how active it is, and then I'll loop out and back down around to Home Depot and conduct the same experiment.

If either or both places are dead then I'll know things are fucked, after all Saturday (I worked at one of those places as a kid) was the busiest day of the week by far.  You could easily have 350-500K in sales on a Saturday and only 80-150K during weekdays.

I think I'm going to shoot for going from 1-3p.m.  That was usually a fairly busy period if memory serves.  I'm also going to take a peek around to see what people are putting in their carts and will be taking note of employee friendliness as well as overall training and acumen.

Would anyone at ZH be genuinely interested in the results?  This is by no means scientific, but I am a pretty observant guy (after all, would we be here if we weren't?).

Fri, 04/05/2013 - 20:30 | 3414929 NoDebt
NoDebt's picture

Sure.  Let's make sure we know what area of the country we're talking about, rough idea of the "affluence" of the area and the weather that day.  

You can always go talk to the manager, too.  Tell him you're doing a little research and ask if you could get his opinion on a few questions.

Be bold.  Don't be afraid to ask.  Most times people will be more than happy to tell you more than you ever thought they would.

Fri, 04/05/2013 - 22:13 | 3415249 W74
W74's picture

Best people to talk to in those stores are the guys at the "pro desk."  They not only have to make sales, but have to generally know most of the products in the store, and occasionally design plans for projects.  Occasionally you'll get a guy in electrical who once worked as an electrician or a plumber who once did plumbing....sometimes.

I'm not afraid to ask questions or talk to people in any way.  Hell I talked to the guy running for Senate at my polling place (Republican which in Maryland means you're a dead man walking) and just had a normal conversation with him: "Tell me why I should vote for you instead of Sobbani (Independent)" and he did.  My wife who's shy as hell is flabbergasted that I have the ability to "talk to strangers".

Mon, 04/08/2013 - 02:18 | 3415500 Lore
Lore's picture

You might have better luck talking to middle management. The boss in a chain store is usually reluctant to share company intel -- should be, anyway. You'll almost never hear a negative report from small business owners, no matter how bad things are. You might as well try to coax hard truth from a real estate board, or wine from a stone. But good luck. Sometimes, you find someone chatty, especially at the end of the day, especially if they're sure you aren't a competitor.

Sat, 04/06/2013 - 07:49 | 3415782 smlbizman
smlbizman's picture

w74...white marsh area the good ole days like 5yrs ago...there were 6-8 guys at the pro the time they each had a 10k daily sales there is 1 guy and no , i would safely say that within a 10 mile radius of me i could hit 6 h. depots and 1 maybe 2 lowes...and yes the repubs can win 12 of our 15 districts and lose....however if we think about the city and its occupants, thinking that most really dont care about voting ...why should they they "gots" their phone...which further convinces me the magnitude of fraud in these elections.....

Sat, 04/06/2013 - 06:50 | 3415738 itstippy
itstippy's picture

Swing by the bunks of "lumber"and see what they're selling as 2X2s & 2X4s these days.  You'll laugh or cry or both.

Weekends suck!  They doubled the size of my local Menards and filled the new floor space with bulk household products, shitty "food", and plastic toys & crap.  Now when I stop to pick up some sticks & wire & cement & hardware for a weekend project I have to navigate crowds of slow-moving overweight women in stretch pants with kids in tow.  Honest to God, they're stocking cases of "Fruit Juicy Juice" and "Summer Fun Slip & Slide" kits in the middle of the ductwork department.

Menards is trying to survive in a tough economic environment.  It's painfully obvious that the Home Improvement market isn't enough any more.

Sat, 04/06/2013 - 08:15 | 3415796 smlbizman
smlbizman's picture

all these stores cemented their future when they relentlessly went after the small contractor.  making it really difficult for companys that tried to operate in a sustainable way.   the desperate, beer drinking home improvement guy, decides to be a contractor for the depot because he cant obtain work on his own ....being paid slave wages with no benis...once again people being propped up instead of allowing to fail...this puts pressure on properly run companys to lower their pricing.  thus weaking their sustainability. yeah, install a hot water heater for 125.00 labor than maybe grab a hauling fee. with this in place, one call back and u are in the hole.... and after the 1099 and a call back here , a call back there what have they really made, not much....

Fri, 04/05/2013 - 20:22 | 3414909 Spitzer
Spitzer's picture

Bill Orilly just had an investing segment on his show and he had Ben Steine and some lady on. It was classic. The lady said gold was at nose bleed levels and Ben said that it doesn't matter how much money the Fed prints. The lady recommended jumping into the bond bubble and Ben reccomneds all stocks.

Did these hopless retards just call the top of the bond bubble and the bottom in gold at the same time ?

Fri, 04/05/2013 - 20:30 | 3414928 Yen Cross
Yen Cross's picture

    I caught the segment.  It would be nice to see Mr. O'Reilly take the time to financially educate, before he opines.

 Ben Stein is the last person I would sequestor for financial advice. ( BenStein used to be Republican)

Fri, 04/05/2013 - 20:36 | 3414947 NoDebt
NoDebt's picture

Ben Stein used to write political speeches (I think he started with Nixon, but don't quote me on that).  He's not an investment guy.  Why you would ever listen to him for investment advice is beyond me. 

He should have stuck with being Ferris Bueller's social studies teacher. 

Fri, 04/05/2013 - 20:40 | 3414964 Cdad
Cdad's picture

Mr. O'Reilly is financially illiterate.   At least he was when I last watched his show some two years ago.  Has his #1 rated news show figured out that The Financial Story IS the Federal Reserve and what is doing just now?  I doubt it, but go ahead and correct me if I am wrong...because I threw my television in the dumpster...and anyway, watching that guy is simply grating.  

Fri, 04/05/2013 - 20:49 | 3414994 Yen Cross
Yen Cross's picture

  Bill O'Reilly = Financial  Cheddar Cheese.  

Fri, 04/05/2013 - 21:04 | 3415039 Cheesy Bastard
Cheesy Bastard's picture


Fri, 04/05/2013 - 21:22 | 3415097 TuesdayBen
TuesdayBen's picture

Bill O'reilly =

Fri, 04/05/2013 - 21:34 | 3415153 Yen Cross
Yen Cross's picture

 Willy O'Reilly needs to do his 'homework' .  Has zero financial prowess. ( his underlings) possibly?

Fri, 04/05/2013 - 21:36 | 3415161 Spitzer
Spitzer's picture

None of this is true guys

Bill Orilly gets it. He actually does understand that the US dollar will crash

Sat, 04/06/2013 - 01:26 | 3415543 Ham-bone
Ham-bone's picture

sorry spritzer...all Bill gets is ratings.  be controversial, be something.  NOW, if you sat down w/ Bill, he's probably a bright guy who "gets it" but the tv persona (if that's what it is) cares not one iota except for rilling up the troops.

BTW & Amazingly, MSNBC has taken over the title of most slanted news station from Fox...and they have left no doubt and in fact make Fox look "fair & balanced" by comparison.  Ouch.

Sat, 04/06/2013 - 08:50 | 3415830 HardAssets
HardAssets's picture

Anyone on mainstream tv is in the propaganda arm of the banksters, and part of the false 'right' versus 'left' diversion. My guess is that most of them are too ignorant to realize that, and the rewards they get for being members of Goebels Ministry kills any incentive for learning anything different. After the last world war, many Germans were asked how they could allow what happened to take place at the cost of so many lives and the complete destruction of their country. They believed the lies they were told and didnt have the courage to dig deeper.

Fri, 04/05/2013 - 20:56 | 3414944 Bennie Noakes
Bennie Noakes's picture

I still remember Ben's assurances at the very beginning of the housing crisis that subprime was just a blip, nothing to worry about at all. He seems to be channeling Ben Bernanke.

A bit of nostalgia from March 18, 2007:


Sat, 04/06/2013 - 06:44 | 3415731 Go Tribe
Go Tribe's picture

That's awesome, like he was programmed by Lloyd, Ben, and Timmah.

In March 2007, this is PERFECT: "You can panic if you enjoy being panicky. But this will all blow over and the people who buy now, in due time, will be glad they did."

Fri, 04/05/2013 - 20:24 | 3414917 NoDebt
NoDebt's picture

All is not lost. Some good may come from this yet. It's kinda "old news" to us who have been around a while but the info is getting out there. The employment article posted by Tyler just about went viral everywhere this morning except the MSM. Rush Limbaugh even quoted it in his radio show today.

Hell, just tonight I ran into a fellow ZH'er at dinner. Just talking about stuff and he brings up the fact he thinks gold prices may be manipulated and that we might get "Cyprus'ed" here in the US. All my antennas went up.

He says he's been reading this sorta "fringe" blog, really good, that not many people know about...... I interrupt with "you're talking about ZeroHedge."

His jaw hangs slack for a second and he says "You.... know about it? Nobody I've met has ever heard of it". I said "Know about it? I bought a condo there! It's my distant early warning system."

I won't out the guy. If he wants to introduce himself that's his business.

But I ask.... Who's fringe NOW? Word is getting out. When I meet a local at dinner who's reading ZH, believe me, it's getting out.

Fri, 04/05/2013 - 20:43 | 3414978 McMolotov
McMolotov's picture

It was on the tip of everyone's tongue — the Tylers just gave it a name...

Fri, 04/05/2013 - 22:30 | 3415278 Van Halen
Van Halen's picture

It's really going to get out now that Drudge linked the headline straight here. Hopefully a ton of new people come in and learn stuff.

Fri, 04/05/2013 - 22:32 | 3415289 Room 101
Room 101's picture

The word is getting out.  Take a peek at the number of reads on any given article versus the posts.  Typically, the reads outnumber the posts by about 100:1. And then consider: are these the kardashian klub groupies or the people who actually think.

The banksters don't read zero hedge like the clinton white house didn't read the Drudge report.   


Fri, 04/05/2013 - 20:33 | 3414943 syntaxterror
syntaxterror's picture

Moar student loans!

Moar food stamps!

Moar billions in fed purchases!

Moar stimulus!

Moar obamanocare!

Sat, 04/06/2013 - 06:11 | 3415715 Flying Tiger Comics
Flying Tiger Comics's picture

It's not the existence of social drugs like the lapdog media, food stamps and handouts, it's the fact that anglosphere people no longer see any shame in the mass consumption of these things.


Mind control poseurs.



Breakfast of chimpions. Or chumpions.


But not fucking champions. We stopped making them.


Sat, 04/06/2013 - 06:47 | 3415733 Go Tribe
Go Tribe's picture

You forgot

Moar car loans!

Fri, 04/05/2013 - 20:36 | 3414951 cdntrader
cdntrader's picture

Don't worry. If well designed stop hunting algos can so easily lift the entire market and instantly liquidate their entire positions to stupid institutional VWAP, TWAP, etc. algos, you can imagine the amplitude of the damages they will do in the other direction...!

Fri, 04/05/2013 - 20:58 | 3415022 stopcpdotcom
stopcpdotcom's picture

Vice President Joe Biden calls for the creation of a "new world order" at the Export Import Bank conference in Washington on April 5, 2013. He also said the U.S. jobs figures for March are "disappointing."


Fri, 04/05/2013 - 21:38 | 3415167 ekm
ekm's picture

that freaking phrase never seem to disappear

Fri, 04/05/2013 - 21:05 | 3415044 ekm
ekm's picture

By now it should be clear to anybody that QEs only harm the REAL ECONOMY in order to preserve the body of the dead financial system. And as always, it's all and all about crude oil price.


We are only 1 presidential executive order away from a repeat of 2008 3 times as big, just one presidential executive order away from a Lehman Tripple.

Fri, 04/05/2013 - 22:37 | 3415296 Room 101
Room 101's picture

A Lehman triple?  I'll up bout a Creditastalt quadruple with a Bear-Stearns full twist. 

Fri, 04/05/2013 - 23:15 | 3415360 spine001
spine001's picture

One of my professors is a professional portfolio manager. Remember I told you guys that I am studying economics to be able to argue with these guys in a formal language that they understand. And after I argued with him for just a few minutes he threw the towel on trying to defend the currenc CB policies. He started with the conventional micro and economic arguments. But now I know enough to kill them in terms they can not counter. He knows and is only trying to support the party line. They are scared. They are watching the Betas on Bloomberg terminals continuously if they see them converging on 1 they run for the exits automatically. They are all aware that the music can stop at any minute. From their perspective the game is to exit with the top 50%...

Until next time,


Sat, 04/06/2013 - 00:51 | 3415521 Lore
Lore's picture

Hope your debates are not 'argumentative' so much as a process of dispelling myths and clearing up misunderstandings. If you really want to cut through dinosaur mainstream thinking, read some of the free gems at the Mises Institute -- but you might reconsider innovating at exam time, if getting an 'A' matters to you. 

Sat, 04/06/2013 - 08:13 | 3415794 StarTedStackin'
StarTedStackin''s picture

green shoots are everywhere!




recovery summer 4 is right around the corner!!


both parties are the same!!!



a vote for Ron Paul is not a vote for the O'Bowel Movement!!!!





I'ts amazing how many stupid things that stupid people will believe, just because the socialist media says so.....

Sat, 04/06/2013 - 14:45 | 3416625 Law97
Law97's picture

The extra-crazy thing yesterday was that the furures were down -0.6% before the jobs numbers were released.  By the end of the day, on no news, the market actually finished better than before the jobs numbers were released. 


Last weekend everybody was saying how the jobs number would be the big Kahuna report that would decide what happened to stocks.  Monday - Thursday as all the other horrible macro data were released, pundits/MSM were saying the reason the market wasn't reacting negatively was because it was hoping for a blowout good jobs number.  Those pundits were also saying it'd better be good, because it appeared the market was already pricing in an upside surprise judging by its shrugging off of all the other bad macro news coming out this week.

I like to make a mental note of what "they" are saying leading up to the release of macro news and see how it stacks up against what actually happens.  When you do that, you clearly see that no one really knows what the hell they are talking about.  Everyone got this one wrong, just as they seem to do with everything else.   

Sun, 04/07/2013 - 03:38 | 3417982 MythicalFish
MythicalFish's picture

They were probably talking about crude oil and the DAX. ES/Wallstreet is just a mindfuck for underemployed online poker players..

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