Philly Fed Surges To Highest Since March 2011 Despite Plunge In Jobs & New Orders

Tyler Durden's picture

Philly Fed has beaten expectations for 6 months in a row with its biggest surge since the 2009 lows. Against expectations of 19.3, Philly Fed printed 28.0 - highest since March 2011 all-time highs. All sounds awesome right? Umm, no, 7 of 9 internal declined including - New Orders tanked, Employment tumbled, Prices Paid plunged, and Prices Received slumped. So, in case you were wondering how it is possible that Philly Fed surged given such shitty internals, the 6-month forecast index ("hope") just surged to 22-year highs. And not only that: put all hopes of that long-delayed CapEx renaissance on hold: "While most broad indicators of future growth have been improving, the survey’s future capital spending index has been slipping. Although the index decreased just 1 point this month, its reading, at 17.5, is now the lowest it has been in seven months."

Look forward to Yellen talking soon about lack of capital spending as a pretext to keep ZIRP on for much, much longer.

Philly Fed headline surges...

 

Sub-indices plunged... (7 of 9 indices dropped)

 

Except Hope...

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ekm1's picture

 

 

The headline number is exactly what the White House ordered.

 

It is that simple.

Two-bits's picture

Of course it is,  There has to be a recovery for the boogy man to inturrupt in order to get the sheep to baaaack the gubmint when all hell breaks loose.

Manthong's picture

Philly Rabbit, Tricks are for Feds.

Headbanger's picture

All intended as good reason for the Federal Reserve to start jacking up rates to save the U.S. dollar as the global reserve currency.

 

RattNRoll's picture

We hoped and changed all of you.

Meat Hammer's picture

All over your faces.  Don't get any in your eye.  Stings.  Huh, Reggie?

LawsofPhysics's picture

and still "no inflation", they are fucking wizards...

better raise those rates...

ekm1's picture

There are other ways to call margin on the system regardless of what Fed does.

 

The whole economy is collaterized into derivatives now at insane leverage.

 

An engineered sudden drop of oil price is basically a margin call.

 

Meat Hammer's picture

I'll bet you're a riot at parties, ekm.

GetZeeGold's picture

 

 

better raise those rates...

 

Cause we want to commit suicide?

 

Just let me know....I'm good with whatever.

ekm1's picture

Either financial wipeout or bye bye to USD as world currency.

 

There is no other choice for US Congress

Meat Hammer's picture

Most members of Congress don't have the faintest idea what you just said. Might as well have been Charlie Brown's teacher.

McCormick No. 9's picture

Basic true analogy #37:

"I'm doing so well... I THINK I'LL GO OFF MY MEDS!!!!!!!!

Meanwhile, strange shit is happening that no-one is really paying any attention to:

http://poleshift.ning.com/profiles/blogs/spiral-light-over-oaxaca-in-mexico-2014

 

Headbanger's picture

Oh noooo!!  And fucking Nibiru is about to collide with Earth again!!

AAAAAhhhhhhhhh!!!!  Run away!  Run away!

There is no Planet X you idiot!

GetZeeGold's picture

 

 

spiral-light-over-oaxaca

 

I'll tell you what that is.....if you promise not to freak out.

 

Promise?

Dr. Venkman's picture

Diner en Blanc is tonight in Philly. It will be a boon to the hipster economy which is the only thing thriving there.

dontgoforit's picture

Through the looking glass.

vyeung's picture

fundamentals mean nothing as the momos are going nuts and the derivatives are going full retard. Only the fool retails think business as usual.

RiskyBidness's picture

I cant fuckin take it any more!!  More contracts are trading on the Rut futures than the Dow futures.  That is just plain weird!!

disabledvet's picture

The interstate highway system ruined Philadelphia. The sooner they level that thing the better.

SheepDog-One's picture

Only the top will be allowed to benefit ever again, savers are screwed from here on out as well as PM's, they have their game totally rigged.

Bay of Pigs's picture

Pure unadulterated bullshit 24/7 these days.

One example of reality. Six large bars and restaurants have gone down in Maui the last two years. Many had been there 15 to 20 years or more. Mooses in Lahaina, the Waterfront and Buzzs at the harbor, and Stella Blues, Oceans and the Sportspage in Kihei. Literally hundreds of jobs lost (with a total population of only 150K on the island) and big buildings sitting empty.

KidHorn's picture

I don't get how you read 7 of 9 numbers decreased. it looks like everything but unfilled orders had more increase than decrease.

Kina's picture

So this is a formula with a Variable X that is pulled from the arse each month so Y always = good.

Yen Cross's picture

  These numbers are a joke! Nobody is buying Chinese shit and suddenly everybody is buying U.S. shit at a 3% premium? The usdx is up almost 3% over the last 8 weeks.