Economic Data Dump Round Up

Tyler Durden's picture


Quite a data dump took place at 10 am. Here are the highlights:

  • Consumer Confidence missed, printing at 69.2 on Expectations of 69.6 and down from 70.2
  • 32,000 new homes were sold in March, which translated into 328,000 seasonally adjusted units in March, primarily driven by surging Southern sales even as sales in the West dropped to the lowest since September. The median sales price of new houses sold in March 2012 was $234,500; the average sales price was $291,200, both far higher than February.
    • The seasonally adjusted estimate of new houses for sale at the end of March was 144,000. This represents a supply of 5.3 months at the current sales. Obviously this does not include the millions and millions of homes in shadow inventory and even more homes which have negative equity and will be critical in determining future demand
    • The irony is that due to February revision to 353,000 total new home sales meant that the sequential change was a -7.1% drop on expectations of  +1.9% rise. Alas, the robots took the headline and ran with it convinced this number is a green light to QE when in fact the print was better than expected (if still creeping along the bottom).
  • Finally, the Richmond Fed also beat coming at 14 on expectations of a decline to 6 from the March print of +7.
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Tue, 04/24/2012 - 10:19 | 2369727 Cognitive Dissonance
Cognitive Dissonance's picture

All fixed.

That was easy.


Tue, 04/24/2012 - 10:29 | 2369779 SheepDog-One
SheepDog-One's picture

'All fixed'? Wait...what was broken that needed to be fixed in the first place?

Tue, 04/24/2012 - 10:47 | 2369833 Cognitive Dissonance
Cognitive Dissonance's picture

You are SO hired as Fed propaganda chief.

Here I am declaring that the windmill is fixed when you come along and say "What broken windmill?" :)

Tue, 04/24/2012 - 11:14 | 2369977 Manthong
Manthong's picture

Finally, the leg amputation also beat coming at  a loss of the foot and ankle on a cut below the knee on expectations of a cut at the thigh on the March diagnosis of gangrene.

Tue, 04/24/2012 - 11:52 | 2370137 repete
repete's picture

but 37 of his limbs were saved!

Tue, 04/24/2012 - 10:39 | 2369819 Death and Gravity
Death and Gravity's picture


Tue, 04/24/2012 - 10:53 | 2369898 JPM Hater001
JPM Hater001's picture

Got it. Press button every 108 minutes and save the world.

Tue, 04/24/2012 - 10:41 | 2369829 FlyoverCountryS...
FlyoverCountrySchmuck's picture

Hopey-Changey, Suckerz!!

Tue, 04/24/2012 - 10:22 | 2369733 crawldaddy
crawldaddy's picture

Even though a monopoly game is seemingly won, the monoply game cant end if the banker just keeps tossing about free money.  Its just a worthless exercise of going around and around paying the same people more and more.

Tue, 04/24/2012 - 11:01 | 2369936 GoldenTool
GoldenTool's picture

Kind of sums up the situation doesn't it?  The banker has the ability to give his friends money under the table so the game never ends...  How long can this keep going?  Until someone knocks the board over and gives the banker a black eye or the banker stops handing out money and goes for the win.  Usually the board gets knocked over as one of the drunkin spectators, knocked out of the game earlier, realizes how it happened and gets mad.  If the bankers only interest is to keep people playing and in the game then welcome to a loong game of monopoly.  Any spectators want a snap card, ssdi, beer, chips?


Monopoly, a very good analogy on life.


Ahh to be young again.

Tue, 04/24/2012 - 11:13 | 2369978 DeadFred
DeadFred's picture

Water empires are always destroyed by attacks from the outside. Who out there is thinking that it's time to pillage Babylon?

Tue, 04/24/2012 - 13:40 | 2370565 Kassandra
Kassandra's picture

This is all just so depressing...

And our choices are the guy we've got or a guy that believes in magic underwear.


Tue, 04/24/2012 - 11:01 | 2369940 vast-dom
vast-dom's picture

Ever try buying groceries with monopoly money?

Tue, 04/24/2012 - 11:27 | 2370035 Creepy Lurker
Creepy Lurker's picture

Yeah just last friday. Takes more and more of the yellow ones each time.

Tue, 04/24/2012 - 10:22 | 2369737 Snakeeyes
Snakeeyes's picture

New home sales TANKED. Nice recovery!!!!!!!!!! 

New Home Sales Down 7.1% – Housing Remains in the “House Latitudes”

Tue, 04/24/2012 - 10:22 | 2369738 LongSoupLine
LongSoupLine's picture

Wow, lots of bad core wonder the market just ramped hard.

Tue, 04/24/2012 - 10:26 | 2369758 crawldaddy
crawldaddy's picture

yeah, what a rabbit hole the market is. If data is good, then yay market goes higher since america is back baby, if data is bad then Yay, things are so bad uncle ben will toss more free money.


like the computer says in wargames, The only winning move is not to play..


Tue, 04/24/2012 - 10:22 | 2369742 Conman
Conman's picture

All news is good news, BTFD /puke/

Tue, 04/24/2012 - 10:23 | 2369745 firstdivision
firstdivision's picture

My 10am data dumps don't contain this much shit.

Tue, 04/24/2012 - 10:24 | 2369746 the 300000000th...
the 300000000th percent's picture

When is this house of cards going to come crashing down? When will they go to war with Iran? When will BRICS get its shit together?? How much longer do I have to buy cheap gold and silver??

Tue, 04/24/2012 - 10:25 | 2369752 buzlightening
buzlightening's picture

DOW 15K  Print to infinity!

Tue, 04/24/2012 - 10:28 | 2369774 q99x2
q99x2's picture

These computers are going to get pissed from taking all the blame and take revenge.

Tue, 04/24/2012 - 10:48 | 2369875 overmedicatedun...
overmedicatedundersexed's picture

30 yr mort below 4% guess no inflation or who would lend at these rates? buying should be booming with low rates like these but the economy is so absolutely Fuc#d. USA so bad even third world mexicans are running back home.

Tue, 04/24/2012 - 10:56 | 2369916 max2205
max2205's picture


Tue, 04/24/2012 - 10:57 | 2369920 Printfaster
Printfaster's picture

Richmond Fed:  Isn't that all the federal government employees in their district?

Hardly something to cheer about.


Tue, 04/24/2012 - 11:17 | 2369993 MFL8240
MFL8240's picture

This obama guy has done a great job! lol! 

Tue, 04/24/2012 - 11:21 | 2370008 SheepDog-One
SheepDog-One's picture

OK so wheres all the trouble and bad news and markets tanking so they can usher in their 'QE NEW' and then ramp the markets and make everything rosy for 'election happy time'....somethings wrong here.

Tue, 04/24/2012 - 11:24 | 2370024 orangegeek
orangegeek's picture

All these endless mind boggling details - so we can "figure out" if it's time to go long or short.


Easier to find a market index and follow its trend:

Tue, 04/24/2012 - 11:30 | 2370045 Everybodys All ...
Everybodys All American's picture

Simply amazing how easily this market is manipulated higher. Continued lower volume moves up and higher volume moves down. Can there be any other reason why retail will not participate?

Tue, 04/24/2012 - 11:50 | 2370127 valley chick
valley chick's picture

and when does the air come out of this balloon today?

Tue, 04/24/2012 - 12:56 | 2370392 SheepDog-One
SheepDog-One's picture

Well Apple earnings are after the close so if theyre bad or less than euphoric 30% needed beat, all will be corrected before futures open in the morning I'm sure. Still, somethings missing from the script....3 months ago everyone was 100% certain we'd have a market dump to usher in QE3NEW or whatever so they could ramp markets and make all the bankrupt americans happy about Obama....and it seems to be not happening according to plan. Every little .5% dip is immediately recovered by next morning. So, I really have no idea what these fuktards are going to do.

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