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What Weather? US PMI Explodes To Highs, Ignites USDJPY Momentum, Sends Futures Surging
WTF will be the head-scratching meme of the day. After spending weeks 'denying' facts and blaming weather for just how bad all the macro data in the US has been recently (US Macro index at six-month lows), Markit's US PMI just smashed expectations, printing at 56.7 (vs 53.6 exp.). All the main sub-indices from new orders to employment rose markedly suggesting all is well with the recovery and that weather has had no effect whatsoever. In fact, US PMI jumped the most on record in February. Of course, USDJPY was spanked on this 'great news' and that smashed US equity markets higher, filling the China PMI miss gap down.
Despite US Macro at six-month lows (blamed on the weather effect...
US PMI is soaring... What Weather effect?
It's all good - no weather here...
And sure enough that's all we need to smack USDJPY back above 102 and fill the gap from China PMI on S&P futures...
Charts: Bloomberg
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Dupe
And this, friends, is a ZH Fat Finger.
Maybe traders jump becasue they are....MOAR bored.
us is taking china market share due to cheaper labor
well it was soaring... That was short-lived!
Symmetry is beautiful.
futures are soaring 1 point
after being down 10
yawn. just getting a green open to prevent a gap down. going back to close gaps is really a pain in the ass for mm's.
The news was so good Tyler posted it twice.
So, what happens to the user comments from the dumped dupe thread?
They go to comment heaven.
You guys are never, ever going to win. Just BTFATH.
You sir are correct
I'm sure they said the same thing in Venezuela and Argentina.
Road salt accounted for 15% of that number!
Markit PMI is owned mostly by banks - even Singapore's sovereign fund has a 10% stake. They are even planning an IPO, so the last thing they want is for the market window to close on them. Enough said.
Philly Fed and leading indicators at 10 should tell the tale for the day.
Whew.....that was close.
<All able bodied men to the fiat pumps.>
Darn, Tyler took the other post down. So long commentary. We knew you only for a brief moment, but you will live in that great commentary archive heaven forever.
So according to the government, everyone is buying everything but they're just not doing it at Wal-Mart.......
very long lines buying Chocolates this morning .......
Absolutely insane the level of fraud we are witnessing! It is utterly sickening to think that this govement has reached the level where which every report they post is unrealistic to the point of being laughable!
well, given the huge amount of weather related damage, and accessory to get through it, just replacing things that need to now get replaced (from power lines and generation damage to roads, etc) would require a jump in purchasing.
Wonder how much was fuel/ Nat gas, harsh winter related activity?
weather only matters when the news is bad, when its good weather has no effect.
of course markets r up, no surprise, wtf would they ever be down.
did u not here the news of fuckshit buying whatsapp for 16 billion, this is a very normal world and market we r witnessing.
Is that you Jim Cantore.. Is this me?
Goddamn it sucks having not money. The con game is easy to see once you start following it.
The question then becomes when to hold'em or fold'em. 2013 was the year to hold it and watch it build to ridiculous levels then sell it near the closing months. But the only guys getting that cash the gov is shittin out are the ones driving this monstrosity.
God I would have killed it.