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Today's Economic Data Docket - Claims, Leading Indicators, Mass Layoffs

Submitted by Tyler Durden on 09/22/2011 08:22 -0400

While nobody will actually care about today's set of high frequency economic updates, seeing how the world's implosion has now been validated and it is all up to the global central banks to bail us out (which they will fail at miserably), as has been anticipated on this blog for months, here is what the algos, who are the only ones trading US economic headlines now, have to look forward to.

8:30: Jobless claims (Week of September 17): Back to June level. Initial jobless claims rose to 428k in the week ending September 10, returning to their June level. The Department of Labor said that there were no indications that Hurricane Irene had an impact on the national total for claims (reported by Bloomberg). If claims were to increase meaningfully further from last week’s level it would be a worrying sign for the cyclical outlook.
Consensus: 420,000; Last: 428,000. MAP: 2

10:00: Index of leading indicators (August): Consensus forecasts expect a small increase in the index of leading indicators during August, likely reflecting the steep slope of the yield curve and an increase in housing permits. Several other components of the index likely declined.
Consensus: +0.1%; Last +0.5%.

10:00: FHFA House Price Index (July): Further gain? This index—which tracks the purchase price of homes with agency-conforming mortgages—increased in each of the last three months, and consensus forecasts look for another small gain during July.
Consensus: +0.1%; Last +0.9%.

10:00: Monthly Mass Layoffs Update (August):Mass layoff actions in August will probably be concentrated in government and financial industries. Many school districts will complete their layoff plans as the new school year approaches, and there have been numerous large layoff announcements among financial firms.

11:00: Treasury will announce details of the following week's 3- and 6-month bill auctions, along with the month-end 2-, 5-, and 7-year auction details. Consensus looks for a combined $56.0 billion of 3- and 6-month bills, a $33.0 billion 2-year note, a $34.0 billion 5-year note, and a $28.0 billion 7-year note.

Sources: GS, SMRA and ZH

- advertisements -

Thu, 09/22/2011 - 08:25 | 1696324 Smithovsky

why is gold going down?

Thu, 09/22/2011 - 08:26 | 1696327 GeneMarchbanks

Because the $ is going up.

Thu, 09/22/2011 - 09:02 | 1696476 Bicycle Repairman

Is this the 'Ka' in 'Ka-Poom'?

Fri, 09/23/2011 - 13:33 | 1702213 Smithovsky

you sure about that? gold down almost 10%, $ unch.

Thu, 09/22/2011 - 08:28 | 1696332 Pool Shark

De-leveraging...

Time to break out the 'DOW 10K' hats again... Woo Hoo!!!

Thu, 09/22/2011 - 08:30 | 1696334 covert

people don't have the cash or credit to buy it, obummernomics.

http://covert3.wordpress.com

Thu, 09/22/2011 - 08:32 | 1696343 DormRoom

gold & silver were in an asset bubble. And withouth US central banks printing more money, the bubble has popped, as big investors cash in, and wait on the sidelines.

We're headed towards deflation, and not hyperinflation. see the swoon in all commodities.

Thu, 09/22/2011 - 09:04 | 1696483 Bicycle Repairman

Gold will go down, but it will retain more value than other assets. In the next phase = "Saving the world, part deux", gold will be your lifeboat.

Thu, 09/22/2011 - 09:06 | 1696492 mspgrandi

very balanced and honest comment... however judging by the feedback, people on theses blogs are all long adn seem to believe gold adn silver can rally forever hahahaha

Thu, 09/22/2011 - 08:33 | 1696348 kito

we must remember that there are two markets for gold. once the paper market drops gold to low 1700s, the physical buyers will be back in to keep it stable. hold tight and remember why you bought physical.

Thu, 09/22/2011 - 08:43 | 1696392 Vincent Vega

Bingo kito! I gladly trade paper for physical. I hope the paper traders knock the price of physical gold down some more...makes me happy.

Thu, 09/22/2011 - 08:35 | 1696349 SilverRhino

Wow, silver is getting fucking BLOWTORCHED. 37.19 .... what a ride.

http://www.kitco.com/images/live/silver.gif

Thu, 09/22/2011 - 08:39 | 1696377 BrocilyBeef

BURN BABY BURN!

Thu, 09/22/2011 - 08:35 | 1696353 mayhem_korner

Gold going down is transitory. Dollar needs to be propped up sufficiently to enable mass printing to commence. The Bernanke's been holding off on the bux-o-matic until the DXY is closer to 80.

Give it time. Fresh round of buying is on tap.

Thu, 09/22/2011 - 08:36 | 1696359 mspgrandi

More Importantly - Why is Zerohedge (which is not anymore a clandestine blog) only reporting when gold and Silver goes up? Bloodbath today in PM

It is going down because Operation Twist is in reality a Fiscal tightening. No additional cash injected in the Markets. So PM , that had previously priced QE3 are getting hit hard..

Thu, 09/22/2011 - 08:44 | 1696394 LongSoupLine

"buzzzz"...ohhh you missed the boner question.

It's a paper dump. period. wakey, wakey.

Thu, 09/22/2011 - 08:26 | 1696325 GeneMarchbanks

Sorta FYI for the bots, eh? Doesn't help me, what's the latest rumor? maybe I can trade that?

Thu, 09/22/2011 - 08:31 | 1696337 monopoly

Dollar is the "safe haven", right. Correction number 28 in gold, miners, happens all the time. As long as you are not on margin you are always in the game. Might be time to short big time after the next dead cat bounce.

Thu, 09/22/2011 - 08:32 | 1696345 Edward Fiatski

Halp me, I'm from Europe, and I don't want to die. :((

1929 = 2008; 2011-2012 = 1931-33, BITCHEZ.

Thu, 09/22/2011 - 08:41 | 1696388 DogSlime

Calm down, dear. Everybody dies sooner or later :)

Now, if your statement was "I don't want to die of starvation or freeze to death in a Winter where there is no fuel or be killed by an anarchic mob, nuclear war or genetically engineered virus"...

Thu, 09/22/2011 - 08:53 | 1696435 LongSoupLine

Apple ships...eat iPads like us.

Thu, 09/22/2011 - 08:34 | 1696350 BrocilyBeef

And I got less than $38 silver today! Wow, in just one day, how about that. ;-)

Thu, 09/22/2011 - 08:53 | 1696430 SilverRhino

Now it's less than 37.

Silver Bid: 36.87 Ask: 36.97 Change: -3.52

Thu, 09/22/2011 - 08:35 | 1696352 kito

relax, no panic among the sheeple: latest hot search trends......

Sep 22, 2011 - change date
Updated 19 minutes ago

iGoogle Gadget New! Site Feed 1. elizabeth warren 2. meg whitman 3. rick santorum 4. revenge 5. hp ceo 6. mitch daniels 7. us supreme court 8. law and order svu 9. r.e.m. 10. death penalty 11. r e m 12. cheryl cole x factor 13. blaine gabbert 14. cameron todd willingham 15. kirstie alley 16. clemency 17. death row 18. person of interest 19. naacp 20. gurney

Thu, 09/22/2011 - 08:37 | 1696366 Edward Fiatski

kito,

This cattle you speak of will perish in the fire of a thermonuclear War, just as they had previously in World War II.

Thu, 09/22/2011 - 08:42 | 1696391 madbomber

the gay ** that you get gay with will get gay in world war gay?

scary.

Thu, 09/22/2011 - 08:35 | 1696354 1835jackson

I watched Gangs of New York last night and visions of angry mobs seems appropriate right about now.

Thu, 09/22/2011 - 08:39 | 1696375 madbomber

gays of new york? :) yea a bunch of man on man action is really needed.

i cant hate, its apparently a big male tendency (in the usa) to be really into other men.

so until then.

http://www.youtube.com/watch?v=jAEmr-mmnBQ&feature=related

i heard im gonna die at the end.

Thu, 09/22/2011 - 09:00 | 1696468 snowball777

Don't believe everything you hear in a Turkish prison. And it's not when, it's how (in your case, cock-induced asphyxiation).

Thu, 09/22/2011 - 08:38 | 1696358 spanish inquisition

Hope and Change is upon us! As in, "I sure HOPE you have some spare CHANGE"(TM)

Edit: might be a good Tshirt

Thu, 09/22/2011 - 08:36 | 1696360 fdisk

Everyone happy I guess now Silver down 6%+ and GOLD near 3%
"De-leveraging..." yeah, for couple of days.. This guys need
to play somewhere, Everything is down and Treasuries yielding
almost nothing.. Gold is probably down due to the possible Margin
Calls, people need to rise cash. Days like today, better just close
the f* screens and go for a walk, nothing to see here.

Thu, 09/22/2011 - 08:38 | 1696371 mspgrandi

Soem of you really need to use some additional info sources on top of Zerohedge, only reading 100% bearish news has made you so pessiistic

Thu, 09/22/2011 - 09:05 | 1696493 kito

pessiistic? is that the definition of your state of being after you stop believing all of the crap thrown at you by the mainstream media, large corporations and the federal government?

Thu, 09/22/2011 - 11:25 | 1697130 11b40

I assume you mean "some" of us, not soem of us.

I assume you mean "pessimistic", not pessiistic.

Call it "pessiistic" if you like, but I think most here would lean toward 'realistic" as a better description.

Thu, 09/22/2011 - 08:38 | 1696372 the not so migh...

oooo la la

http://www.ft.com/cms/s/0/6b888b44-e49d-11e0-92a3-00144feabdc0.html#axzz1YgU4wqk9

not just what the bearded man did, or is he doing this because of the "no passage"

Thu, 09/22/2011 - 08:40 | 1696378 madbomber

Bernake is a big hunky teddy bear

dont hate

Thu, 09/22/2011 - 08:41 | 1696380 boom goes the d...

A trading dream come true......again

Thu, 09/22/2011 - 08:41 | 1696383 Caviar Emptor

THis is what happens when so much badness is 'ignored' for so long by the markets: it all comes home eventually

Thu, 09/22/2011 - 08:41 | 1696384 papaswamp

Ouch + 21000 on NSA unemployment

Thu, 09/22/2011 - 08:45 | 1696397 madbomber

WORLD WAR GAY imminent

hedge accordingly

Thu, 09/22/2011 - 08:45 | 1696398 Bazooka

Goood Morning......

Market crash is a great day when you are positioned on the short side.

Gold and Silver crashing with equities.....they have decoupled as the safe haven and are now in sync with equities (after a few weeks of pretending to be a safe haven).

Thu, 09/22/2011 - 08:45 | 1696399 Bazooka

Goood Morning......

Market crash is a great day when you are positioned on the short side.

Gold and Silver crashing with equities.....they have decoupled as the safe haven and are now in sync with equities (after a few weeks of pretending to be a safe haven).

Thu, 09/22/2011 - 08:45 | 1696402 firstdivision

They need commodities to go down a bit, and the dollar to harden in order to get a $1T limit on the Fed's Chase debit card.

Thu, 09/22/2011 - 08:48 | 1696407 lunaticfringe

All I know is, It's Us Against Them. I can't wait to stretch a few necks. http://thecivillibertarian.blogspot.com/2011/09/like-it-or-not-its-us-ag...

Thu, 09/22/2011 - 08:58 | 1696457 madbomber

Are you sure thats all you know?

I'm going to register on your blog asap. I'm into conspiracies and anti government type of shit.

Thu, 09/22/2011 - 08:48 | 1696410 Snidley Whipsnae

Good thing we all went long pork bellies...

http://finviz.com/futures.ashx

Thu, 09/22/2011 - 08:48 | 1696411 madbomber

MEN ON MEN - CHINESE AND CAUSCAUSIANS IN HEATED MAN ON MAN ACTION -

RUSSIANS COMNIG SOON

WORLD WAR GAY PART III

HEDGE YOUR PRECIOUS METALS

BURY THEM IN YOUR YARD AND THEN GET READY TO HOT TUB WITH OTHER MALES

Thu, 09/22/2011 - 09:07 | 1696499 kito

ive heard of bizarre scenarios, but yours takes the cake brother.

Thu, 09/22/2011 - 10:04 | 1696749 madbomber

danke

Thu, 09/22/2011 - 08:49 | 1696418 Moneyswirth

Gotta love it. This is an actual headline at CNBC:

Weekly jobless claims fall, offering glimmer of hope

Meanwhile, reading the fine print:

Applications for unemployment benefits slipped to 423,000 in the week ending Sept. 17 from an upwardly revised 432,000 the prior week, the Labor Department said.

They keep raising the bar for failure. Slipping to 423K is now good news! YAY!

There really is no good news out there on the economic front. The Obama/Bernanke junta really is working according to plan.

Thu, 09/22/2011 - 08:50 | 1696424 Rockfish

CNBC see upside says Joe and Jim - why do I watch this shit. Probably the same reason I beat myself in the head with a hammer. It feels so good when i stop.

Thu, 09/22/2011 - 08:57 | 1696452 mynhair

Thanks for the laugh, RF!

Thu, 09/22/2011 - 08:52 | 1696429 Moneyswirth

The light at the end of the tunnel is an oncoming train

Thu, 09/22/2011 - 09:03 | 1696478 madbomber

the light at the end of the tunnel is the giant, white beautiful member God blessed us with

and women love.

Thu, 09/22/2011 - 08:54 | 1696441 Salty Dawg

whatever

Thu, 09/22/2011 - 08:58 | 1696460 madbomber

stop being negative.

Thu, 09/22/2011 - 08:54 | 1696446 TradingJoe

All an outright engineered "crash" to strnghten the USD in order to print some more, give it a little time but printing will commnece and GOLD/SILVER will go to the roof! it was clear that a such massive run up needs to cool off a little, great op for more physical, rest is noise!

Thu, 09/22/2011 - 08:55 | 1696448 Rockfish

Is Roach creditble?

Thu, 09/22/2011 - 09:00 | 1696469 madbomber

hank williams III on you bitchez

http://www.youtube.com/watch?v=24Ya9jHrdY0&feature=related

GOD BLESS AMERI CA

Thu, 09/22/2011 - 09:04 | 1696480 Moneyswirth

Barclays: "Jobless trend is deteriorating..."

No shit

Thu, 09/22/2011 - 09:04 | 1696481 richard in norway