Today's Irrelevant Economic Data: Case Shiller And Conference, POMO, And Two Fed Speeches

Tyler Durden's picture

Some economic data out which has absolutely no impact on anything anymore. All that matters are lies and rumor. And headlines. THE BIGGER, THE MORE BOLDED AND UNDERLINED THE HEADLINES THE BETTER. Also, never forget, the better the news, the better; the worse the news, the best.

From Goldman and SMRA:

9:00: S&P/Case-Shiller home price index (July): Small gain? Our model based on asking prices points to a small increase in the seasonally adjusted Case-Shiller 20-city index during July. This would leave prices down 4.3% from a year earlier.
GS +0.2%; Consensus: +0.1%; Last -0.1%.
10:00: Conference Board confidence index (September): Stabilization. Timelier measures of household sentiment have improved a bit, and we therefore see a stabilization in the Conference Board’s measure of consumer confidence.
GS: 46.0; Consensus: 46.0; Last: 44.5. MAP: 3
10:00: Richmond Fed survey (September): Likely weak. Regional manufacturing surveys released for July so far—including the Philadelphia Fed index, the Dallas Fed index, and the Empire State index—point to another weak result for the Richmond manufacturing survey. In addition to a manufacturing index, the Richmond Fed survey contains a separate set of questions sent to firms in service-providing industries, which is one of the few direct measures of services activity in the monthly indicator cycle.
Consensus: -11; Last -10. MAP: 1

11:00: Sack is at it with another small POMO: The Open Market Desk will buy TIPS in the 04/15/2013 - 02/15/2041 maturity range
12:30: Atlanta Fed President Dennis Lockhart on the economy. Q&A expected.
13:20: Dallas Fed President Richard Fisher on “Explaining Dissent: Why I Voted Against Operation Twist”. Q&A expected.

From GS

Comment viewing options

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

Markets are desperate for QE, any QE from any pimp out there: rumours of EFSF expansion is worth 4% on the DAX.

EDIT: I don't think they will give that juicy cock to the markets so easily, if at all; TARP had higher per-requisites.

covert's picture

nerviousness in the market today means blood in the streets tomorrow, keep your eyes and ears open.


NervousRex's picture

More yummy fodder for the stochastic news chompers.

Don't look now but I think the machine powns us all. We must feed Val.


LongSoupLine's picture

fade this dead cat rumor bounce.  This is clearly a big-boy driven sucker pump for the mass, and final, exit to the "only the chosen lifeboats"

LikeClockwork's picture

But could indices even attempt to rally for a couple weeks, while the euros haggle? Bizarro economics rein.

Jim in MN's picture

OK, how about some real headlines:

Bloomberg: Fukushima fallout worst since Nagasaki

NHK News: Fukushima City to Decontaminate All Homes in City

This is the big one IMHO as Japan Inc. has been desperately averting its eyes from the state of radiation in the quarter-million person Fukushima City.  Now the city government, having found contamination high enough to warrant evacuation (six months later), is trying to avoid it by...washing over 100,000 houses.

This is reality, people.

Quadlet's picture

Silver up 16%...

No article to quote...

buzzsaw99's picture

Dick Fisher, what an appropriate name, as in he fishes Lord Blankcheck's dick out of his golden slacks every morning before lunch.

KennyG09's picture


I logged in just to give you a greeny. Needed a good laugh.

PY-129-20's picture

Okay, I know I am totally off topic here and I must excuse for this. But keep in mind how much trouble the last volcano on Iceland caused.

El Hierro, a volcano on the Spanish Canary Islands, is very active recently and seems to get closer and closer to an eruption. "Situation worsens at El Hierro. 3,5 event widely felt, 5 events over 2,5 in the last 2 hours." In my humble opinion, and I've discussed this with many over at Jons Blog, an eruption will happen this year. It's very close now. The only thing missing is a bigger earthquake (doesn't need to be a huge earthquake - an earthquake of the magnitude 3-4 could trigger the eruption easily.)

Another thing was also confirmed yesterday by Icelandic Officials. Katla had a minor eruption this year in July. There is still a lot of pressure and activity in Katla.

More important for Icelanders are the recent developments from Hengill, which is part of a very dangerous deep drilling project - you can read more about this here:

Jim in MN's picture

For those who like to watch earthquakes...


Dan Watie's picture

Truth? Light? Welcome to their world, HELL.

RobotTrader's picture

Lots of bears trapped at the lows who shorted the breakdown in the NY Composite, EEM, etc.

kurzdump's picture

Bear trap or dead cat bounce. Lets wait a few days to find out if youre right.

somethingisrotten's picture

I hate to be the bearer of bad news, MomoTrader, but any bear worth his honey is playing with your money at this point.  Good luck getting it back.

Id fight Gandhi's picture

Everything has gone full retard. Europe soaring USA to soar again today, fuck it.

TBT or not TBT's picture

If the EFSF expansion-by-leveraging and shoring up of private banks plan is scuppered by German politics this week, then dead cat bounce, else bear trap, with me in the bear trap.

jjsilver's picture

ALERT ALERT fed induced metals smash down taking place at 8:24 am est


LawsofPhysics's picture

Any information on where the POMO and the 400 billion will be directed.  Is this all going to Europe?

Kina's picture

DAX 4% bahahaha

Why don't they just push it up 20% each day, we could all be super wealthy then, problem solved.


Imminent economic armageddon apparently quite bullish for stocks. But apparently not so much for the only 'real' money since the begining of time.


Corruption of markets much?

mainuh1's picture

Gambling in Vegas is more honest than the Stock Market, Fed and government.

Freewheelin Franklin's picture

I don't care about POMO. I only care about ROMO.


ROMO is GOD, bitchez!