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Beige Book Comes And Goes, Market Yawns
The September Beige Book, which had exactly zero new informational content, had just the right amount of impact on the market: zero.
Stone McCarthy summarizes the report in one table:
Key highlights per Bloomberg:
- Growth was slower in some regions in July, August
- Several districts reported recent stock market volatility, increased economic “uncertainty” triggered downgraded near-term outlooks
- Consumer spending up slightly in most districts; non-auto retail sales flat or down in several
- Manufacturing “mixed” across the country, with pace slowing in many districts
- Residential real estate remained “weak overall”
- Wage pressures “minimal,” price pressures edged lower
- Loan quality “generally improving”
- Tourism “solid” in most areas
Although there is no point in reading it, the full paperweight can be found here.
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I prefer the blue book, bitchez.
Sorry OT Have you seen this Tyler?
Ought to get the heads rolling... er I mean the clicks clicking
Iceland tries ex-premier over collapsehttp://www.iol.co.za/business/international/iceland-tries-ex-premier-ove...
And on that note the 'market' continues its melt up as if everything was booming along nicely
And with markets in frantic meltup mode only 10% or so from ALL TIME record highs, FED members squeeeel for more free money required immediately if not sooner! Huh?
But they won't get it!!! Today's more of the same low to non existent volume melt up followed by some epic sell off once it becomes clear there will be no more free lunch! At least not for now!
Carrot almost....in reach....not quite....there....yet....1 more REACH...carrot should be....all mine....seems to be moving.....away still....maybe if I run....FASTER!...yes thats it...run harder....run faster...
good one!
Obviously publically traded US companies are worth dramatically more than they were yesterday because..... of something.
This same non sequitur market trend happened at the end of August, it's pure momo nonsense.
Okaaaay
Armed with a box of crayola crayons and the Beige Book, your children can have hours of enjoyment.
im starting to think the red pill is an hallucinogen thats giving me a really bad trip..................shouldve stuck with shrooms, at least id be having fun...............
LOL. Try the peyote.
thats getting harder to find, the region it comes from is losing the cacti at an all time high rate.
I think that the only reason the market is getting this vapor lift today is to soften the landing that will come tomorrow when the unemployment numbers get released.
just giving it a loftier perch from which to fall so that a 30 point drop in the /Es will only bring it back to todays opening level rather than a new now for the week.
this is all complete bullshit and we all know it.
Oh, don't you worry, Obama is speaking tomorrow night about he is going to rev up the printing presses. Those Employment numbers are going to look great (peachy). Then in 2 months they will adjust them down like they have "every" report since 2008.
Don't you worry, "mm"-k
Much like my moniker and anything I have to say, the Beige Book, too, is pointless.
and...back to your normally scheduled porn...
Face of WS goons when it is clear there won't be any money coming, anytime soon...PRICELESS!
I cant wait! The can wont be kicked again Sept 21, that would be the 3rd strike and Bernank is all out of slow pitches.
I cant wait till people hear Bernank give his standard keyword jumble with all the usual BS about bonds in it, but no PRICE TAG announced, no free gift to equities...Wall St goons will shit and fall over.
i h8 neutral colors.
'Beige'....yuk!
anybody hear anything on why pms are getting hammered today??? what is with this rumor of someone dumping physical gold??? i hope tyler gives us something more on this..........
From where I see it, if you are in for the long run this stuff is just noise. As it has been said repeatedly, the fundamentals that caused the rise in PM's has not changed, and has perhaps gotten worse. Spark up a bowl and kick back... This shit is far from over.
Fads come and go...gold is so yesterday and paper is totally back in vogue and bell bottoms are also coming back around. Go long bell bottoms.
Bottom line is this.
The end of the year is approaching, getting close to bonus season.
Not since 2009 has there been an opportunity to "Make Your Year" buying the absolute worst crap imaginable off the lows.
Not only that, tons of guys are still short huge.
Today, lots of hedge funds are gambling that the lows are in, and they are buying junkers like RF, X, NVDA, CBG, etc., all of which are up 8% - 10%.
We are now entering "Performance Anxiety Season".
LOL...
OMFG dont you just ever GO AWAY?!?!
Com'one Sheep, Robo is TOTALLY ENTERTAINING or is he?!?!
Great stuff as always Robot. You've got a great eye, and you know what to focus on and when to focus on it.
I'm convinced that the reason why you've got so many detractors here on ZH is because they hate the fact that you can do what they'll never be able to do.
To bad they can't manage their emotions and at least benefit from your sharing. A damn shame.
silly pumpers. trix are for hookers.
To me, Robo satisfies my desire to hear what's happenin' on the other side of my trade. I find him very tolerable and entertaining... No one here can doubt his 20/20 hindsight trading vision.
But you sir should learn to stop talking once nose meets ass.
you forgot to say "I love you".
what does he do? by his own admission he buys and holds. he is not a trader. in his own words he does not trade. he buys vz, t, dd, xom. mo and hd - dow jones stocks - and collects dividends.
how is that different than what a garden variety mutual fund does?
in his own words he doesn't buy tzoo or lulu. it's all talk. for gosh sakes. the guy is an unemployed former bank receptionist masquerading as a stock guru anonymously on zh's message board.
clueless dickhead.
The authors' grasp of the obvious was underwhelming...
Yippie ! Austerity package is approved in Italy. The bankers wealth has been preserved and the poor will be properly punished. Should be good for another 100 points on the dow.
Beige Book fading the Bear Market.. Just like the EU story that is no longer working for the Bears. As with all Fairy Tales, the truth shall set you free...
we don't take kin'ly to those dat don't take kin'ly round these parts.
What will the market do when it realizes that there will be no more monetary (fed) or fiscal (congress) stimulus headed their way?
Gold will crash -10% on that day.
There will be no way to support the non-triggering of the CDS/CDO's if they stop printing. Our whole currency system is based on inflation (controlled) and Production. Typically healthy inflation would mean rising production with rising income and rising interest rates. What we have here is, deflation in your assets, deflation in production. deflation in your income and negative interest rates. Then the other side of the coin is showing, Rising cost's of that diminishing production, rising cost's in food, rising cost's in energy and rising cost's to maintain those depreciating assets.
The printing press "can't" stop............................................
QE to infinity !
we are going to go up 200 points...and down 200 points...that is how the bankers will make money.....churning the tape....in the mean time the gold selloff has me dumbfounded...???? But hey..I bought a new Ford truck today....so I got that going for me...
shouldve gotten a tundra
Not really. Market at highs of the day. Gold heading lower again.
I am aware of the fact that I'm not famous with -16 votes on my gold comment but seriously.
Double top is double top. Something is changing in the market.
You are a typical momo for believing in the charts as if they can't be painted. Double top is what you want to believe because that is what has been concoted for you. What is changing is $300 billion more that is going to put more lipstick on the GDPig.
Honestly gold got hammered in minutes for huge drops...now if the charts showed slow gradual drops then maybe a double top would be real but from here it looks like more of the same manipulation for clowns like you that like to believe their money is good in the rigged casino.
Well depends. I don't care about hypes or news. I simply look for chart patterns combined with volume. So far gold looks to me like it is in distribution phase. I got DZZ yeh and have no interest in gold going up. Like I said, back in 08 the hype in oil. I see the same thing with Gold now. I wonder what will be hit first. the $2000 or the $1450.
My bet is to the downside. Maybe we won't hit the $1450. I'm happy with $1500 to. Especially if you loaded up around the "possible" highs. Smart money is selling to the herd, to the sheeps. This is how it works.
Lots of you folks are saying there is no more Fed support coming. How can you be so sure?
because Rick Santelli said so on CNBC :-) LOL
Well JC Penny gave a bad report today, mortgage loans dropped even with record low rates, high end housing slumping, more openings less hiring, banks being sued, CEOs being fired...DOW should be up 1000.
When the dust settles, the only thing left standing, will be GOLD! Anything else is wishfull thinking! We experience, now on a daily basis, the most massive destruction/transfer of wealth in the history of mankind, who the fuck is thinking this won't bear ANY consequences?!?! Wake up for fuck's sake!!!
This is excellent action as regards the miners. Swift kick in the butt, weak holders bail since miners going to 0, hangs out at the bottom for a while to make sure they are all purged, then just a slow grind off the lows and maybe even a little green. This is how it works. Get the almighty smart traders out, and then those of us who just work here still in business. Still here.
These averages are so absurd, take them up to resistance and then dump them again. Shorts killed. Longs killed. They call this investing. Great for Grandma.
What a broken treacherous market.
Wow 97% of S&P stocks are up today. They couldnt make it 100%, come on computers.
I'm sure you can find some sort of fundamental that can make business better for 100% ofcorporations in one day.
Stupid Netflix is letting everyone down today.
I like how every CEO when asked how growth prospects are, they just throw out emerging market BS and nobody questions it.
Need to check out The Grey Book . . . http://www.intellectualconservative.com/article3835.html
Here in eastern Massachusetts, there are supposedly more job openings than qualified people. A few years ago, the governor of Mass was going to give recent college grads $10,000 if they stayed to work in this state.
Meanwhile, rents continue to rise parabolic. It is very hard to find an apartment for less than $2,500 a month east of Worcester in any halfway safe town.