Thursday, September 17, 2009

Spinned Job Data

Revisions, Revisions - Adam Hayes -- Seeking Alpha:

"The government is playing a little game with the investing public when it comes to jobs data (and others like GDP etc. - but let's focus on the jobs data). Simply, the survey of economists will produce some consensus target number and then the 'actual' number will come in slightly better. The market sees this as green shoots and.. RALLY! However more times than not if you look at the REVISION - that is the adjustment to the previous release of this data to reflect what it actually should've been - is usually a bunch worse!"

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