Today's Economic Data Docket - Ignore Durable Goods And The Beige Book: It Is All About Headline Risk

Tyler Durden's picture

Today's economic docket consists of Durable Goods numbers (if the Paris Air Show was indeed as bad as we expect, Boeing, i.e., aircraft, orders may slip substantially), the Beige Book, and $35 billion in 5 Year Notes (+$20.065 net). All of it irrelevant: the double whammy of major headline risk out of both Europe and the US (Europe bailout 2 unwinding, no deal 24 hours ahead of the Thursday congressional deadline) will be the key driver of the market once again.

8:30: Durable goods orders (June): A soft report? Goldman forecasts that durable goods orders declined by 1% in June. Although most of the expected decline is due to a drop in aircraft orders, sluggish activity in the second quarter suggests that core capital goods orders (nondefense capital goods excluding civilian aircraft) should also be weak. However, the possibility of a boost from the “last month of the quarter” bias that we have noticed for this indicator points to upside risk to the forecast.
GS: -1.0%; median forecast: -0.3%; Last: 2.1%.

11:30: Treasury will auction a $12.0 billion 5-day CMB to raise all new cash.

13:00: Treasury will auction a $35.0 billion 5-year note to raise $20.065 billion.

14:00: Federal Reserve’s Beige Book. The Beige Book is likely to reflect that economic activity continued to expand at a sluggish rate between early June and July (the period covered by the report). The anecdotal information in the latest Beige Book may provide useful information on any remaining supply chain disruptions in the auto industry and any signs whether hiring has picked up following June’s disappointing jobs report.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
duncecap rack's picture

This period of time really makes me think of those pictures in the paper about critical market crashes when sentiment is all mixed up, just waiting to coallesce, then whoomp it's ice-9 time.

voshnishki's picture

Is it time to sell Ebay as #oppaypal goes mainstream?

BlackholeDivestment's picture

...sluggish, imagine that. Good morning Babylon.

...and a little Crosscut for good measure. That's all the love I can muster up for this bullshit market image, forgive me.

sabra1's picture

keep hearing on the news that phone lines are swamped, servers crashing, all due to sheeple fearing that the debt ceiling won't be raised. i call bull on this fed induced propaganda! this is exactly what oBLAHma needs to bring in his cuts to all programs!

slewie the pi-rat's picture

headline risk?  i thought it was risk off, today? 

world-wide, PPTs and market makers are being very, very good.  kinda nice, really. 

  • dow  -.7%
  • s&p -.4
  • naz -.1
  • stox -.9%
  • ftse -.4
  • dax -.4
  • nik  -.5%
  • topx -.8
  • hngsng -.1

all down, all less than 1%

dollar's up


remember:  whatever happens, act confident!


Byte Me's picture


Your ZeroHedge mini-logo is not appearing in my browser's tab to your fine site.

This is since your 'new look' at the weekend. Surely some oversight. Would you ask he with the capital Pi avatar to remedy this please?

karmete's picture

Well done! Thank you very much for professional templates and community edition sesli siteler sesli sohbet

galenakarsson's picture

Thank you for the post I really love it! Viagra Online

chinawholesaler's picture

Wine Set
Promotional Products

Wholesale Badge
Hair Products
Wholesale Stationery

Wholesale Keychain
Wholesale Mp3
Wholesale Glasses

Wholesale Mobile Phone
Poncho Raincoat
Wholesale Coaster

Vocal Concert Products
Wholesale Coaster
Digital Photo Frame

Photo Frame
Wholesale Flag
Wine Set

Wholesale Ruler
Wholesale Whistle
China Wholesale

Audio Video Equipment
Wholesale USB Products
Wholesale Cup

Wholesale Banner
Electrical Gifts
Fishing Supplies

Mouse Pad
Entertainment Supplies
Wholesale Dartboard

Wholesale Dartboard
Tape Measure
Health Care Products

Wholesale Album
Wholesale Bookmark
Wholesale Flag

Money Clip
Wholesale Mug
Wholesale Clocks

Lunch Box
Valentine Gifts
Hair Products

Crystal Gifts
Wholesale Clothing

Advertising Material