Clown World

113
Fri, Jan 14, 2022 - 10:55am

If you need an example of just how utterly screwed up the financial markets are in 2022, today provides a perfect example. The data doesn't matter. Only the HFT algo reaction matters.

So happy Friday to everyone. We've finally come to the end of what we knew was going to be a long and volatile week. A three-day US market holiday weekend awaits but we have to get through today first and paint the weekly charts before we check out.

The news today has come in bunches. The first key datapoint was the latest update on retail sales here in the US...and it was lousy. Almost...

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Key Economic Events Week of 1/24

1/24 9:45 ET Markit Flash PMIs for January
1/25 9:00 ET Case-Swiller home prices
1/25 10:00 ET Consumer Confidence
1/26 2:00 ET FOMC Fedlines
1/26 2:30 ET CGP presser
1/27 8:30 ET Q4 GDP first guess
1/27 8:30 ET Durable Goods
1/28 8:30 ET Personal Income and Spending
1/28 8:30 ET Core PCE
1/28 10:00 ET UMich 5-yr Inflation Expectations

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