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Chicago PMI Misses As New Orders & Production Slump
US equity markets were sliding into the Chicago PMI print as early release indications proved correct and it missed expectations. Having flip-flopped from worst since July 2013 to almost cycle highs last month, Chicago PMI printed 60.5 (vs 62.0 expectations) hindered a drop in new orders and production. The silver lining, the employment index improved modestly. Prices Paid surged to its highest since 2012.
Chicago PMI flip-flopped again...
Not exactly the smoothest most consistent indicator of economic health?!
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It is lot worse and it will continue to get worse and worse and worse, unless QE is unwound and few primary dealers are wiped out
Either financial system partial wipeout (Triple Lehman) or economic collapse.
Pick one. Can't have both $1.4 quadrillion in derivative gambling and economic expansion.
Maybe we should see if we can get through raising the Fed Funds rate off zero before we start talking about unwinding the Fed's QE balance sheet.
We could just make 40 hr/wk legal again.....that should kickstart us.
You and I both know that fed balance sheet is never going to be unwound.
I'll admit it, I am more interested in the Chicago PSW index.
People Shot per Weekend.
pods
The world is slowing down...so it has to be contracting....Cat is not shipping to many new orders to the rest of the world right now...
Watch QE come back. Bigger ths time. Maybe $170 billion/month.
If last QE didn't work last time we'll just make it bigger
Paul. Is that you?
It's what Japan has done. And We all know how well that's working. I completely agree with you that the criminals at the Federal Reserve will push this once again until one of these people is taken to task. Who is going to stand up against them? Give me a name ekm1. Every time someone has tried they have immediately been discredited by the media.
If we are going the way of Japan, Amerikan chicks are going to have to lose a lot of weight to get all cartoon dolled up.
Long Roll Play.
pods
Suppose it is QE that is only adding to the global economy's current weakness, i.e. it is NOT stimulus at all. Then suppose the world figures this out....
Inventory at 41yr high. Guess they ar trying the Chinese model of if you build and store it demand will show up...maybe..not yet....oh shit.
Meh, they'll make it up next month. We do have an "election" just around the corner.
Edit: Freaking internet is whacked out today.
I'm guessing this is timing out perfectly to hold on by it's fingernails through the election, slump afterwards and then have another glorious rise from it's own ashes next spring. Same yearly cycle that's been going on for a while now.
Chatter about a small correction issued to eurozone inflation data
Eurostat has reportedly issued a correction to the CPI data released earlier today.
With rounding, the correction doesn’t change anything but it’s still slightly bullish.
Headline HICP now 0.30% vs 0.25% initially
Core 0.74% vs 0.66% initially
The core number is still technically +0.7% and well-short of the 0.9% consensus but the revision (and the Chicago PMI) helped boost EUR/USD to back above 1.2620.
You can only borrow so much demand from the future, as the Fed has done for the past several decades.
Waiting for the future to get here is going to be painful.
"How can it be that institutions that destroy the common welfare
and are extremely destructive to its development come into
being without a common will directed towards establishing them?"
Well, we're gonna need to use this ISIS thing as a back door into Syria then Iran, after all, fellas.
Now then, about the war tax - it won't be a real tax, see, you'll be investing in Federal Reserve Savings Bonds. CPI - 2.2%. Sweet deal, just ask Stan Fischer!
Now that's a fella who's really on the trolley!
But GDP is still on track, right? PMI is just numbers?
Yeah, it's on track.
There's just one problem...
http://www.charlesdickinson.net/artimages/end-of-the-line.jpg
End of the month. Market needs to be positive? Doesn't matter that the data sucks.
Wow! Housing, Chicago PMI, Spanish unemployment and other indicators......The only things pointing up around ZH today come from the ads for Russian and Asian dating services.
All this bad news was just in time, "The Market" needed it after a very difficult few days of sideways trading. Silver not taking the bad news so well, all news is bad news for the metal... big suprise.