Thursday, April 1, 2010

ISM

Here's the ISM. Note that 'prices' are increasing 'faster'. Then think about interest rates and the charts I put up here constantly. We are either going to break down the barn door to intensified inflation fears or we are going hard in the other direction. Bernanke - unlike some other Fed officials - is either really brave or really stupid.

The t-bill has not told him what he HAS to do yet, but the long bond may be about to tell the t-bill which will tell Ben.

MANUFACTURING AT A GLANCE
MARCH 2010


Index
Series
Index
March
Series
Index
February
Percentage
Point
Change


Direction
Rate
of
Change

Trend*
(Months)
PMI 59.6 56.5 +3.1 Growing Faster 8
New Orders 61.5 59.5 +2.0 Growing Faster 9
Production 61.1 58.4 +2.7 Growing Faster 10
Employment 55.1 56.1 -1.0 Growing Slower 4
Supplier Deliveries 64.9 61.1 +3.8 Slowing Faster 10
Inventories 55.3 47.3 +8.0 Growing From Contracting 1
Customers' Inventories 39.0 37.0 +2.0 Too Low Slower 12
Prices 75.0 67.0 +8.0 Increasing Faster 9
Backlog of Orders 58.0 61.0 -3.0 Growing Slower 3
Exports 61.5 56.5 +5.0 Growing Faster 9
Imports 57.0 56.0 +1.0 Growing Faster 7
OVERALL ECONOMY Growing Faster 11
Manufacturing Sector Growing Faster 8