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Today's Economic Data Docket - JOLTS, Beige Book, Fed Speeches
Relatively quiet, rainy day punctuated by the JOLTS report, the Fed's Beige Book and speeches from Fed officials. Headline news will again dominate market momentum.
10:00 JOLTS (Job Openings and Labor Turnover Survey) (July). The monthly JOLTS report includes data on gross labor market flows, and therefore provides more detail on current job conditions than the timelier payroll report. A decline in jobless claims during July suggests that layoffs may have fallen, but we suspect that hiring growth was slow.
11:15: Chicago Fed President Charles Evans on the economy and monetary policy (Q&A scheduled).
11:30: Treasury will auction a $30.0 billion 4-week bill to paydown $5.0 billion.
14:00: Federal Reserve’s Beige Book. The Fed’s Beige Book—an anecdotal summary of economic conditions compiled by the regional banks—could be especially interesting this month, given signs of deceleration in many indicators. For example, the Fed’s regional manufacturing indexes (which originally evolved out of the Beige Book process) point to a marked deterioration in some cases. We will be watching for any evidence that these surveys have exaggerated the weakness in manufacturing activity, or if firms are indeed seeing much weaker production and new order volumes. Comments on consumer spending should be valuable as well following the decline in several measures of consumer confidence/sentiment. Lastly, watch for details on labor costs. The latest read on average hourly earnings from the August jobs report suggests that wage growth remains low.
15:00: Treasury will release August Stripping Data.
16:00: San Francisco Fed President John Williams to Seattle Rotary Club (topic TBA).
Source: Goldman, SMRA
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CDS please!
JOLTS is going to be interesting. It will be the subject of great spin, like a salad shooter, regardless of the data.
Jolts Bitchez
Gold/silver getting whacked today by paper selling.
They will only surge stronger in the days and weeks to come.
I am having another consignment of physical gold and phyiscal silver deliverred today - WOOHOO, WOOHOO, WOOHOO.
Keep stacking.
India really fucking pissed.
You dirty motherfuckers!
The sky is falling!
Quick!
Run to the hills!
http://geraldcelente.proboards.com
A good read this morning:
http://wraltechwire.com/business/tech_wire/news/blogpost/10096366/
No doubt the August JOLTS will be as bad as the August NFP and the banksters could not have gold over $1,900/oz or silver over $43/oz when it comes out.