Despite serial extrapolators expectation that last month's 4-year high Empire Manufacturing data would continue to rise, it didn't - instead falling by the most since June 2012 to 14.69 (from 25.6). This is the biggest miss in 4 months. The number of employees and new orders tumbled as inventories collapsed. Of course, when current sentiment plunges, hope comes alive... the surge in 'hope' for 6 months from now to its highest since January 2012.
Empire Manufacturing plunges...
[2]
But hope soars...
[3]
Charts: Bloomberg
