More on Philly Fed: The big miss is another in a line of weak data points this morning. The...


More on Philly Fed: The big miss is another in a line of weak data points this morning. The decline was led by a steep drop in shipments to -8.5 from +9.1. Also notable is a big jump in inventories to +4.1 from -22.2. Employment worsened to -8.7 from -6.7. The percentage of firms reporting employment decreases was 22% vs. those reporting increases at 14% - a number sure to cross the desk of the FOMC doves this morning. Treasurys have had a tough May, but they're bouncing today, TLT +1.2%. The leveraged bear ETF: TBT -2.4%. Stocks give up early gains (DIA -0.2%).

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Comments (6)
  • woop
    , contributor
    Comments (49) | Send Message
     
    Oops, but in the report, current iinventory diffusion is -22, not +4...
    16 May 2013, 10:42 AM Reply Like
  • woop
    , contributor
    Comments (49) | Send Message
     
    Oops, but in the report, current iinventory diffusion is -22, not +4...
    16 May 2013, 10:42 AM Reply Like
  • Interesting Times
    , contributor
    Comments (14773) | Send Message
     
    Let's see how much more negative news this market can take. Me thinks they are running out of fingers to stick in the dike!!
    16 May 2013, 12:05 PM Reply Like
  • sethmcs
    , contributor
    Comments (3520) | Send Message
     
    Bad news is good news. QE to continue. Go ahead and fight the tape shorts.
    16 May 2013, 01:04 PM Reply Like
  • Interesting Times
    , contributor
    Comments (14773) | Send Message
     
    "The Dallas Fed's Richard Fisher covers familiar territory, questioning the efficacy of QE and noting the Fed could soon be buying 100% of MBS issuance. The section on fiscal policy - subtitled "Oy" - is most memorable for inclusion of a classic YouTube video about the ease of spending money when it's not coming out of your wallet."

     

    You do have to pay the piper one day, you do realize that ??
    16 May 2013, 01:07 PM Reply Like
  • filipo
    , contributor
    Comments (4623) | Send Message
     
    These figures apparently don't impress the stock market: DJI -0.11% and Nasdaq +0.11%.
    We all know it ain't right, but what can we do except keep on dancing ?
    16 May 2013, 03:32 PM Reply Like
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