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Dallas Fed Soars To 20-Month High As Employment Stagnates
At 12.8, the Dallas Fed manufacturing survey printed at its highest since Feb 2012 - handily beating the 5.6 expectation. Driven by a surge in production and Capacity Utilization, the headline - as they all seem to do - shows some worrying sub-index movements. New Orders expanded at a slower pace for the 3rd month in a row, volume of shipments fell to a 4 month low, and employment-related indices were all weak (wages fell, number of employees fell, and average workweek fell). Even the outlook (six months ahead) fell back from last month's level.
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As long as the Fed isn't shut down, traders couldn't care less about the rest of the govt. Up and away!
A surge in production but a drop in new orders, eh?
Sounds like "supply-side economics" is alive and well then. If you build it, of course, they will buy it.
Voodoo, dolls.
Voodoo Dolls, voodoo economics, cooked books, what's the difference?
DaddyO
Must be the surge in the production of bullshit.
Logical. Very Logical. (Not)
Since when does "logic" have anything to do with anything anymore?
Strong US (data) production.
If the strategy is baffle with bullshit,its working fine.
Trouble is their bullshit is baffling them as well.
+1 lol wc
Good Stooges imagery
And...once again...WHO'S BUYING ALL THIS (ALLEGED) PRODUCTION????
Oil producers
The inability to rationalize the sub-indices makes me think there is some bad data being inputted into these regional Fed measures. Increasingly, none of them really make any sense any longer.
Euphoric news always, without fail, there are no exceptions, occurs at major market tops.
Should be fun.
Just unreal how the markets come back on a lagging indicator when the shutdown is looming right at the face ... UN FCKING REAL.