Philly Fed Smashes Expectations Despite Tumbling New Orders & Employment

Tyler Durden's picture

With 'soft' data broadly tumbling to catch down to 'hard' data's demise, today's Philly Fed exuberance stands out like badly-adjusted sore thumb. Beating expectations by 6 standard deviations (38.8 vs 18.5 exp),

the breakdown shows employment dropped, new orders dropped, prices paid dropped, but shipments surged.


Looking at the full breakdown of the Philly sentiment print, most of the component and especially future indicators fell. For example, the 6m outlook fell to 34.8 from 45.4 previously...

"Seasonal" adjustments to the rescue?

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Ricki13th's picture

Gov't admit their data is not accurate. It only good because the fed still wants to keep the illusion that the economy is strong and wants to raise rates to fuckover Trump. 

Bill of Rights's picture

All the Soros cock suckers all swallow at once....

LawsofPhysics's picture

Everything is "awesome"...

Your move Mr. Yellen, better raise those rates!!!!

MFL5591's picture

Laughable bullshit!

Bill of Rights's picture

Only when Barry the homo was in it was real right?

shizzledizzle's picture

Well, leveraged volitility ETFs are STILL not performing as advertised. Take UVXY for example "Seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the S&P 500 VIX Short-Term Futures Index." It only corresponds 2x on the down. Upswing it's ALWAYS 1X.

Juggernaut x2's picture

Leveraged volatility ETFs are a total scam


NoWayJose's picture

Learn about futures and use those or options instead. Leveraged funds target very specific dates and have to keep rolling them over. Every roll usually means you lose money. Here is what happens-

Pigs ears are $100 today. They buy August ears for $102. You own a partial pig ear. August comes-

Pig ears at $100 - you lose $2 - plus their fees!

Pig ears at $102 - you make no money

Pig ears at $95 - you lose $7.

Worse, in August they take your remaining $95 and buy (fewer) November ears - for $102. And the cycle repeats.

Whereas you individually could buy oil at a few bucks over current prices for delivery in December 2018. Then hold it and sell it when you want.

shizzledizzle's picture

I personally have not touched VOL etf's in quite some time. I just don't like to see people get SCAMED and all the leveraged VOL etf's are just that. I would love to see a class action against proshares. You are right though, options are the way to go.

Veruca Salt's picture

I need cash to cover losses now & and I don't give a f*ck about your statistics.

shizzledizzle's picture

LOL, were you shorting VOL? Like I said, when GS tells you what they have been doing you can bet they are on the other side of it when the article is published.

E.F. Mutton's picture

Calculated by the night janitor.  On LSD.  With an abacus.  Using his feet.

Armed Resistance's picture

+1000 upvotes....That is awesome!

silverer's picture

This one's going to need at least three revisions.

barysenter's picture

The Bullshit Palace