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Today's Economic Releases
Despite it being a holiday shortened week, and volume already abysmal, there still are some robotic kneejerk reaction inducing economic datapoints, both today and Thursday. Here is what the consensus expects today, even as US economic data is once again irrelevant as Italy has taken front and center following the Zero Hedge report that ECB deposit facilities hit an all time record, leading to Italian BTPs widening to over 7% yet again, an a margin hike by LCH imminent.
9:00: S&P/Case-Shiller home price index (October): Further decline. Based on available house price data for October Goldman forecast that the Case-Shiller 20-city index declined by 0.4% month-over-month. In other news, idiots will call a housing bottom all over again.
GS -0.4%; Consensus: -0.2%; Last -0.6%.
10:00: Conference Board confidence index (December): Another gain. Recent strength in the University of Michigan’s sentiment index points to another gain in the index of consumer confidence this month. Goldman forecasts an increase from 56 to 59, a slightly larger increase than expected by the consensus.
GS: 59.0; Consensus: 58.1; Last: 56.0. MAP: 3
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Green up! Ride the bull. The sell side is always right.
De-programming is down the hall and to your right.
Give him a break, he forgot the /sarc
an a margin hike by LCH imminent.
That means banks in Italy will blow up.
Petroplus?? Interesting developments
Gee, hope I'm one of the 30 people that U of M polls for that survey...... Worthless.......
Case-Shiller Down More Than Expected: -3.40% YoY, But Stabilizing
http://confoundedinterest.wordpress.com/2011/12/27/case-shiller-down-mor...
S&P just spiked from red to +11 in minutes... on Case Schiller miss and Sears/K-Mart closing hundreds of stores.
Party on, Tard'merica.
SD1 - I would not be at all surprised to see the ES et. Al. get ramped in the last few trading days, much like they did in the last 20 minutes of many days this year. Would be a fitting end to a year dominated by HFT and central trading. The fact that the markets have decided that Sears is no longer a bellweather is a good start. And using "surveys" as headlines (e.g. consumer sentiment etc.) is a joke.
At this rate wally world will be the only one standing in 10 years.
Wally world and McDs
yes... maybe those two should be on top. charter seychelles
O/T but in my state the unemployment claims system was down for what appears to be a full day, so no one was able to file continued claims. This appears to be isolated but would be interesting to see if other states had a similar problem so the final weekly count gets totally gamed.
These "surveys" are useless and would be nice to see them get discredited much like the NAR, unfortunately sheeple have short memories!
Looks like "Green Shoots" will be coming back in 2012.
Yeah, well, the rest of the yard is dieing off...
10:05 and all the exchanges are green
WTF has to happen ?
Un F'n believable - I give up.
Low volume... easy to ramp. Chill out for a while - things will really start happening in the New Year.
Dip buying heroes score again.
Tyler(s) - all appears to be improving so rapidly, maybe time for your gang to start calling for monetary tightening! It appears that we no longer need the policy supports! The sooner the better, so we can avoid hyperinflation! They would never dare call this trend change "transitory"! <sarc>
No wonder confidence is so high - we get 2 months of payroll tax savings!!!
Disregard, of course, all the store vacancies, the continued reports of negative margins at the retailers, the freaking idiot we have in the Oval Office for another year, and his idiotic bed mates (Reid, gawd-awful ugly Pelosi) (not that the GOP'rs are much better, mind you)
Oh, dah, well, ummmm, we're only losing 380k jobs a week now and that's lower than 400k (don't know what k means, but it's a fancy way to show numbers, ain't it?)
[thuh] [puhb-lik] [iz] [stoo-pid]
In other developments out of Italy, IlSole24Ore is reporting that Seat Pagine Gialle (the publisher of Italy's Yellow Pages) has decided (oh well the company's board has decided) that it won't make December's monthly payment (principal on its senior debt for 35 million euros and interest for 20 million euros) for a total of 55 million euros.
It's politely called technical default.....but a default is a default, right? Even if they restructure the debt (and to get there, they need a very broad agreement among their banking creditors by 16 January).
In other news, the Washington Post writes today that the future of the world economy is in Italy's hands.....oh well since I am 33, born and raised in Italy.....time to panic but also to get another passport and/or to move abroad.....and fast? Happy holidays to everybody on ZH!
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