Monday Jul 22 Chicago Fed National Activity Index 8:30 AM ET, Existing Home Sales 10:00 AM ET,
4-Week Bill Announcement 11:00 AM ET, 3-Month Bill Auction 11:30 AM ET, 6-Month Bill Auction, 11:30 AM ET
Tuesday Jul 23 ICSC-Goldman Store Sales 7:45 AM ET, Redbook 8:55 AM ET, FHFA House Price Index
9:00 AM ET, Richmond Fed Manufacturing Index 10:00 AM ET, 4-Week Bill Auction 11:30 AM ET,
52-Week Bill Auction,11:30 AM ET, 2-Yr Note Auction1:00 PM ET,
Wednesdayt July 24 Bank Reserve Settlement, MBA Purchase Applications 7:00 AM ET, PMI Manufacturing Index Flash 8:58 AM ET, New Home Sales 10:00 AM ET EIA Petroleum Status Report (Crude Inventories) 10:30 AM ET 5-Yr Note Auction Bullet 1:00 PM ET Weekly Bill Settlement 52-Week Bill Settlement
Thursday July 25 Durable Goods Orders (All and Ex transportation separately) 8:30 AM ET, Jobless Claims (Initial and Continuing) 8:30 AM ET, Bloomberg Consumer Comfort Index 9:45 AM ET, EIA Natural Gas Report 10:30 AM ET, Kansas City Fed Manufacturing Index
11:00 AM ET, 3-Month Bill Announcement, 11:00 AM ET, 6-Month Bill Announcement11:00 AM ET
7-Yr Note Auction 1:00 PM ET, Fed Balance Sheet 4:30 PM ET, Money Supply 4:30 PM ET
Friday Jul 26 (Michigan) Consumer Sentiment 9:55 AM ET
..real world of detail--I notice lots left out of yahoo, so this combines Bloomberg and Yahoo collindars.--Performance indicators of the real world through fabricated statistics. I expect the big number will be employment, which should be "improving" since the unemployment numbers eased, even though the rolls picked up another 90,000 unemployment folks total. Increasing at a decreasing rate, the unemployment numbers were stigmatized by the effects of part time jobs comprising the hiring--this week 22-26 July Thursday we get to see how much translates into actual hiring.
But the Bernanke kerfluffle is already a part of yesterday's landscape, and the one percent mortgage pop will take its toll when housing is announced as indicated schedule below.
The sentiment in Michigan? They all wish they lived in California, how upbeat could it be?
As long as part timers are part of the equation, and they're not, the tape will be painted in the direction of "recovery"--that's why Obummer took Obummercare off the table in 2014 when it was supposed to be effective for small and midcaps, and pushed the date to 2015. In the meantime, look forward to a confusing open season for end of 2013 as folks with and without insurance try to come to grips with how to face the bewildering complexity of it all.
No complexity here in silver, another PM selloff. It's heads or tails, a perfect time to be long calls and short puts, the moves have one doubling, while the other gets cut in half, you make the difference, or you can just rock and roll betwixt and between. I ain't that brittle, so I just bide my time. I've been out of silver since $29.
Little US economic news today, while Japan allegedly saw "weakness" in the US dollar as a sign to sell off last night--the real reason? China is shuttering industries as its economy cools, and not propping it up monetarily like zombies or helicopter societies built on debt. In case no one noticed, the dollar has improved 20% since early last year, the dollar as a catalyst for downfall of the Nekkei 225 is nonsense.
One neat note from China wags, the world thinks US tapering won't start until December not September--I still think more like December 2014 not 2013--the hint has people on the fence allegedly running to buy homes in a market that scarcely woke up to the recent 1% home price pop overnight--that will take its toll as buying season ends.
For now, silver remains off a half percent, a trader's dream and coin flip. And the general market, which was up all night here in USA, has taken a turn for minus territory in the wake of the Japan fiasco last night, and the Chinese contraction. Oh who will make my socket wrenches now?
Taper (or just taper TALK) ends low irates, Finance News at yahoo finds 47% of the profitability of corporate America fizzles, tepid economic expansion comes to dead halt, less money to hoard, give shareholders or hire full time or even part time workers. The stupidity of stopping QE is the same thing as stopping breathing to halt cancer. You're dead either way, but in minutes not months or years.
Silver is crashing on taper talk alone, on both industrial and currency fronts--it's heads I lose, tails you win. Making housing stats LOWER previous four months to make June look higher is at best conspiracy, worst case, just plain stupidity. I'd rather conspiracy, takes brains, planning, and a level of control.
Tapering is just plain stupidity, and that is not fixable. Ignorance is fixable. You can't fix stupid.