Garbage In, Garbage Out

Just when you think you've seen it all, the BLSBS surprises to the downside and then brings with it some massive downward revisions to September and August. But of course, none of that can keep the POSX down so now, an hour later, both Comex PMs are struggling to hold on to their gains.

Let's start with the BLSBS because it was a doozy. Here are the headline numbers. Just 12,000 new "jobs" but, if you took away government hiring, private payrolls were so bad that the headline number would have been negative!...

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Key Economic Events - Week of 10/28

10/29 9:00 ET Case-Shiller home prices
10/29 10:00 ET Consumer Confidence
10/29 10:00 ET JOLTS
10/30 8:15 ET ADP jobs report
10/30 8:30 ET Q3 GDP first guess
10/31 8:30 ET PCE and Core PCE
10/31 9:45 ET Chicago PMI
11/1 8:30 ET BLSBS
11/1 9:45 ET S&P manu PMI
11/1 10:00 ET ISM manu PMI

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