As Of This Moment, Obama, Who Is About To Speak At The DNC, Knows Tomorrow's NFP Number
While the fact that the stock market soared to new highs hours ahead of Obama's DNC speech may be a pure coincidence, we eagerly await to find out if while it is Bush's fault the economy is in the dumps 4 years after Obama took control, it will also be Bush's fault that the S&P just printed at 4 years highs. Something tells us that the answer is a resounding no. One thing we know for certain is that as of this moment the incumbent candidate knows precisely what seasonally adjusted nonfarm payroll number will be when it is announced tomorrow at 8:30 am. And since the TOTUS is very good at highlighting marginal moves in the economy, expect a leak or two during today's DNC speech. Then again, since the August number will not have to be discussed at the DNC, which ends this evening, there is a chance that the number of part-time workers added will be substantially below the 150,000 latest whisper number. Naturally, if whatever is reported tomorrow had any bearing in reality, the actual number would be negative. But there is an election to be won in two months, and naturally there are NFP reports after the election which can catch up with that trendline. In the meantime, here is why Obama knows precisely what only those select few other funds that are very, very close with the BLS, know.
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