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National Economic Activity Contracted For 3rd Month In A Row, Chicago Fed Signals
National Activity contracted for the 3rd month in a row according to The Chicago Fed's index. Printing -0.04 (missing expectations of +0.05 for the 9th time of the last 11 months), CFNAI has now been below 0 (contraction) for 8 months this year. Under the surface the biggest problem is the collapse in the sales-to-inventories index to cycle lows (contracting 7 of the last 8 months).
The heradline index is seen contracting for the 3rd month in a row...
as sales collapse relative to inventories...
Charts: Bloomberg
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This is bullish for rate hikes.
Let's pull a Jimmy Carter and go 20%
If a little is good.....more is better.
(I like the way you think)
Are we fucked? Or do I still have to wait until 2016 to realise we're all fucked?
Yes.
(baby ... we all getting fucked presently)
The only thing robust around here is the Italian salad dressing.
There has never been a better time to raise hikes than today.
Contraction is an activity.
Well played.
National Anal Cavity Contracted
fixed it
Looking at 85 market indicators, this is a little more substantial than the fake employment numbers. Must be why they are holding the emergency meeting today. They were at first worried they backed themselves into a corner. Now they find out the corner has a large hole that they won't be able to climb out of.
It's beginning to look a lot like Christmas
Everywhere you go
Take a look in the five and ten glistening once again
With candy canes and silver lanes aglow ......
Bing Crosby
Time for a secret meeting!
I don't think we're really suppose to talk about the secret meeting....but I guess the cat's out of the bag now.
What secret meeting? ;-)
The 12 er, uh 14 Federal Reserve District Governors Roll Call for today’s secret meeting:
New York District – “present”
Boston District – “here”
Philly – “here”
Cleveland – “we are here Chairwoman Yellen”
Richmond – “present and accounted for”
Atlanta – “ready to go girlfriend”
Chicago – “here”
St. Louis – “shake and bake”
Minnesota – “present”
Kansas – “let’s do this thing”
Dallas – “here”
San Fran – “present”
Goldman Sachs – “would not miss it for the world Janet”
Hilsenrath – “here and already have the WSJ story headed to print”
Perfect data to suport a rate increase. This shit is so laughable!
But how can this be?
All of these companies like Nike keep beating sales numbers even with the stronger dollar that was supposed to hurt sales.
I really don't get how the mainstream media hasn't figured out channel stuffing. Also a first grader can do the math that shows that reported revenue is a figment of the imagination.
Where's Krug Mon on this? Oh yeah print big or go home
The central planners are losing control and their MOPE is wearing thin. Learn more about MOPE here: https://www.youtube.com/watch?v=Fnpsi8Q1tH8
All closed door except for the Goldman and JPM people.
It's a big club and you ain't in it!
- George Carlin
When you’re in industrial sales and you get paid a straight salary there’s only one thing to do when things get this slow. Thank God the stress of trying to land billions in stimulus money is over!