• Monetary Metals
    07/28/2014 - 02:38
    Notice the “icicles” dripping all over the place? They occur at different times of the day. What are they? Each one is a brief but dramatic price drop.

Stocks Surge As ISM New York Collapses To 4 Year Lows

Tyler Durden's picture




 

While not a primary macro indicator, the ISM New York's collapse (at the fastest 2-month drop in 4 years) to the lowest in 4 years is yet another indication that the hope the Fed discussed for a recovering economy (and therefore a taper) is an entrely false premise. Business Conditions dropped and expected demand in 6 months cratered from 64.7 to 50.0. This 'bad news' was certainly greeted by the market as good news as taper-off met risk-on...

 

 

While the S&P was already moving at the open, the dismal ISM print set stocks on fire...

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