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Today's Economic Data Docket - Services ISM, ADP And Lots Of Rumors, Lies And Innuendo
On the docket: ADP employment and the non-manufacturing ISM index. Off the docket, but far more important: another relentless onslaught of rumors, lies and videotape.
8:15: ADP employment report (September): Slower growth? Consensus forecasts look for a small deceleration in private payroll growth reported by the ADP report. Unlike the BLS count of private payrolls, the ADP measure was not affected by the Verizon strike in August, and therefore will not benefit from the return of these workers in September. This likely explains the 15k gap between consensus forecasts for BLS private payrolls (+90k) and consensus forecasts for ADP (+75k). Given that the strike was quite large (affecting about 45k workers), consensus is that the gap between the two series could be even larger.
Consensus: +75k; Last +91k. MAP: 3
10:00: ISM non-manufacturing index (September): Another step down? The forecast is for a decline in the ISM non-manufacturing index to 52.0. At its current level (53.3) the index would be consistent historically with real GDP growth of about 2.0%. Watch the employment component for clues on firms’ hiring intentions.
GS: 52.0; Consensus: 52.8; Last 53.3. MAP: 3
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12:00: Bernnake announces he's going to Disney Land
12:00: Bernanke announces he's going to Disney Land
When is the Amanda Knox press conference? Forget this financial shit, I want a sexy chick with dirty laundry.
A series of coordinated DOS attacks should silence the FT, the Liesman and BOA. Oh wait, isn't BOA doing a self inflicted DOS?
this is bank of america. my name peggy
Yes. Having SEVERE problems clearing credit card transactions. Seems like they are trying to hit the 5 day limit on clearing holds. Fucking assholes. The last ones I can get processed are from Saturday, keep this up until Thursday and I'll have to start rekeying manually.......
Costing me a LOT of fucking pain. It's too bad (I checked) that my merchant agreement forbids be from refusing acceptance of any particular banks card.
Pissing me off royally, if I have to have them rekeyed it will cost me a hell of a lot of money, not even sure I can. Have had cashiers recording the CCV identifiers on BAC cards since Monday. Sunday transactions are very likely lost.
Indeed. Their version is a DOCS (Denial Of Customer Service) attack.
Looks like you were right again, Tyler. The Daily Telegraph's Bruno Waterfield is in Brussels and reports as follows. Guess they'll have to find a new rumour to ramp the markets in the last hour today:
Oh dear, that European banking rescue is simply not happening.
Asked if EU finance minister had agreed new measures to recapitalise or coordinate on banks, economic and monetary affairs commissioner Olli Rehn's spokesman said: "No they did not."
Asked if German reports that the EBA was asked to make new proposals on minimum capital requirements were correct, the spokesman said: "No."
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