TJ Marta's  Instablog

TJ Marta
Send Message
  • ADP, CPI Add To Risk QE Taper To Be Delayed Beyond 1Q 0 comments
    Oct 30, 2013 9:10 AM

    Softening labor market, ongoing disinflation represent further corroboration of downside risks to Fed outlook and delay in QE tapering to beyond 1Q 2014.

    • ADP for Oct. 130k vs est. 150k, Sept. revised to 145k from 166k; exhibiting a downward bias; downward revision to Sept. provides more evidence of economic weakening prior to govt shutdown

    • CPI for Sept. shows ongoing disinflationary trends

    • Core CPI 0.1% M/m, vs est. 0.2%, 1.7% Y/y vs est. 1.8%; Y/y downtrend from 2Q 2012 continues

    • Overall CPI as expected 0.2% M/m, 1.2%, down from Aug. 1.5%; pressing toward low since 2009

    • Today's data adds to risks Fed pushes QE tapering back from weakness in previously reported retail sales, PPI, pending home sales, industrial production details, Dallas Fed index, and payrolls

    • NOTE: TJ Marta is an FX strategist who writes for First Word. The observations he makes are his own.

Back To TJ Marta's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.