PMI Friday

The Comex PMs were under pressure overnight and early in the Comex session. However, along came the latest manufacturing sector PMIs and the world was reminded again about the dismal and worsening state of the US economy. As such, prices turned around and now we await Chief Goon Powell and his "fireside chat".

But let's start with those November manufacturing PMIs. They were both dreadful and well again below the 50 level that signals contraction/recession. The more closely watched ISM version came in below expectations and that had to be an eyeopener for some of the hopium-drunk...

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Key Economic Events Week of 2/26

2/26 10:00 ET New home sales
2/27 8:30 ET Durable Goods
2/27 9:00 ET Case-Shiller home prices
2/27 10:00 ET Consumer Confidence
2/28 8:30 ET Q4 GDP 2nd guess
2/28 12:00 ET Goon Bostic
2/29 8:30 ET PCE and Core PCE
2/29 9:45 ET Chicago PMI
2/29 10:00 ET Pending home sales
2/29 10:50 ET Goon Bostic again
2/29 11:00 ET Goon Ghoulsbee
2/29 1:15 ET Goon Mester
3/1 9:45 ET S&P Manu PMI
3/1 10:00 ET ISM Manu PMI
3/1 10:00 ET Construction spending
3/1 10:15 ET Goon Logan
3/1 10:15 Goon Waller
3/1 12:15 ET Goon Bostic AGAIN
3/1 1:30 ET Goon Daly

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