S&P 500 futures are jumping exuberantly as Japan and China PMIs print above expectations and back in expansion territory (Japan best in 3 months, China best in 7 months). This is China's best 2-month PMI rise since Oct 2010 (which makes perfect sense amid the collapsing housing market and CCFD ponzi probe) - which provides the perfect propaganda meme that targeted RRR cuts workl. However, while stocks don;t care to scratch the surface, there are 2 glaring similarities that could become a problem.
The Federal Reserve said “moderate” growth across most of the country last month was buoyed by gains in holiday spending by consumers, an improving labour market and strength in manufacturing.
“The economic outlook is positive in most districts, with some reports citing expectations of ‘more of the same’ and some expecting a pickup in growth,” the Fed said today in its Beige Book business survey, based on reports gathered on or before Jan. 6.
There are facts; then there are completely fabricated, made up numbers. And then there is Chinese "data." After having been exposed in the past several years countless times on these pages alone as being absolute manipulated propaganda hogwash, it is amazing that anyone, anywhere still believes anything to come out of the official Beijing mouthpiece, which merely adjusts a few variable cells in the big central planning goalseeking excel spreadsheet and reports the answer.
Heads up! We are minutes away from the release of the Federal Reserve's April Beige Book, due out at 2 PM ET. The Beige Book is a collection of anecdotes on economic conditions from business contacts in each of the 12 Fed districts.
Heads up! We are minutes away from the release of the Federal Reserve's latest Beige Book, due out at 2 PM ET. The Beige Book is a collection of anecdotes from business leaders across each of the 12 Fed districts that span the nation.
At 2:00 p.m. ET, the Federal Reserve will publish its monthly Beige Book, a collection of economic anecdotes from across the country. Generally, market-watchers don't take this report too seriously. However, this time around, the report may offer some clues as to what will happen when the Fed convenes for its Federal Open Market Committee meeting on September 17 and 18.
Moar 'm' words from the modest boring of backward-looking release - The Beige Book. Unable to say the word slow, it seems 'modest', 'mild', and 'moderate' are the adjective of choice. But there is a bright spot...
Heads up! Minutes away from the release of the Federal Reserve Beige Book, due out at 2 PM ET. The Beige Book report gives an anecdotal update on economic conditions in each of the 12 Federal Reserve districts around the country. It is released eight times per year.