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Richmond Fed Rebounds But Wages Tumble To 12-Month Lows

Tyler Durden's picture




 

After 2 dismal missing months in a row, the Richmond Fed manufacturing survey rebounded dead-cat-bouncedly with its biggest MoM rise since August. The bulk of the gains were a huge swing in New Orders (from -9 to +10) but average workweek was stagnant and wages dropped to their lowest in 12 months. Sadly, for those extrapolating this surge to 'escape velocity' growth any minute now, the Richmond Fed's six-month forward outlook saw shipments, new orders, employees, wages, and capex all drop...

 

 

But what really matters - wages - has seen the biggest 2-month drop in 3 years and dropped to its lowest in a year...

 

Charts: Bloomberg

 

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Tue, 04/22/2014 - 10:18 | 4682479 Charles The Ham...
Charles The Hammer Martel's picture

I wouldnt trust much of what the Richmond Fed throws out as red meat, the people working there are as incompetent as the ones who wrote Obamacare.

Tue, 04/22/2014 - 10:33 | 4682521 The Axe
The Axe's picture

BAD NEWS    Gartman long GOLD   and loves stocks again   http://blogs.marketwatch.com/thetell/2014/04/22/dennis-gartman-goes-from...

Tue, 04/22/2014 - 10:18 | 4682485 Max Damage
Max Damage's picture

Wages are for poor people, and they should be cut. Now print me some more money bitchez

Tue, 04/22/2014 - 10:25 | 4682506 Squid Viscous
Squid Viscous's picture

Southern Culture On the Skids...

Tue, 04/22/2014 - 10:19 | 4682486 NoDebt
NoDebt's picture

I'm gonna go watch Jack Nicholson in "As Good As It Gets" on Netflix tonight.

Tue, 04/22/2014 - 10:23 | 4682501 Max Damage
Max Damage's picture

I hope you are going to get rid of it when they put the prices up? Don't short it though as they will NON GAAP you into the profit column...

Tue, 04/22/2014 - 10:41 | 4682543 NoDebt
NoDebt's picture

I've offest the $9/mo. cost by owning thousands of dollars of their stock.  I sell $9 of it every month to pay the bill.  I figure, what's the worst that can happen?

Tue, 04/22/2014 - 10:21 | 4682489 rsnoble
rsnoble's picture

2 groups of assholes in the US.............non-gov't real world people and government employees.

The 2nd group of snot-nosed fucking babies have the power to tax your ass into oblivion to keep their jobs.  Since it's only survival instinct to not lose your job it's easily understandable why the state considers the rest of us the enemy.  Well there are other reasons for the top tier I know.

Fuck public unions.  Fire 75% of them, give the remaining 25% 50%paycuts.  Anything they can't handle the gov't doesn't need to be involved in.  Pay your own fucking pension you fucking deuchbags.

Nothing like a gigantic sold marble and copper courthouse worth hundreds of millions slammed right in the middle of a fucking slum with falling down houses all around it.

Off topic but I am on limited time today.......because im going to the bar with the neighbor, and just had to spit out a rant.

Fuck 'em all.  Parasites DIE!

Tue, 04/22/2014 - 10:23 | 4682498 FieldingMellish
FieldingMellish's picture

So bullish since it means "taper off". Clearly, what is need is moar free money.

Tue, 04/22/2014 - 10:28 | 4682509 Doubleguns
Doubleguns's picture

forward outlook saw shipments, new orders, employees, wages, and capex all drop...

 

And somehow they got REBOUND out of that?!!

Tue, 04/22/2014 - 10:36 | 4682529 larz
larz's picture

wages?!! we dont need no stinkin wages!!!

Tue, 04/22/2014 - 11:09 | 4682622 khakuda
khakuda's picture

Wages?  The Fed says the rich don't need wages because they boosted stock prices and allowed them to borrow for nothing!  Congress says low income folks don't need wages because they get all sorts of transfer payments.

Wages are just so 1950.  It's a new free lunch world, didn't you know?

Tue, 04/22/2014 - 11:08 | 4682623 disabledvet
disabledvet's picture

As if we have to remind the Richmond Fed that counterfeiting is illegal too.
Shall we throw in a Fraudelent Conveyance in for shits and giggles?

Might have to call in the Postal Inspection Service in on this.

Tue, 04/22/2014 - 12:29 | 4682949 ali-ali-al-qomfri
ali-ali-al-qomfri's picture

I saw the curves from across the room,

No denying those were natural, geometric, classic structures, a head and shoulders so pretty.

The numbers were unbelievable yet there they were right in front of me,

The trend was almost vertical and growth…exponential.

So I called out, to my broker, and sold everything, this market is rigged.

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