California roars back, but there's a 'dark side'

California roars back, but there's a 'dark side': "California was hit hardest by the recession, but the Golden State has come roaring back with a vengeance. A new tech boom, the housing recovery and a temporary tax increase approved by voters under Proposition 30 have led California out of a deficit and into a budget surplus. Unemployment has fallen from a peak of 12.4 percent to 6.1 percent."



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Japanese Yen Manipulation in real time to prop up the stock market - When all else fails this is how you do it - in one pic

The Chart on the LEFT is the USD/JPY pair on a 5 minute chart.
The Chart on the RIGHT is the Nasdaq December Futures Contract.

At 10.00 am on 10/2/15 it was "ignition" with the Yen shorters. Almost instantly the market rallied. And the idiots on CNBC are looking for some good reason it happened....although they are well aware of what really happened.

Treasury Yields Are Crashing | Zero Hedge

Treasury Yields Are Crashing | Zero Hedge:



 "Bloodbath for a near record short net Treasury speculative position as rate-hike odds collapse and the entire UST curve plunges. The belly is collapsing 13-15bps (biggest drop in 5Y and 7Y yields since January) and the long-end is dropping significantly.  Between the 10Y highs of 2.0597% and lows of 1.9022%, the drop was 15.75bp - that is the biggest intraday drop since Sep 18, 2013, the day the Fed did not Taper."



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Silver Spikes To Six-Week Highs On Heavy Volume - Biggest Jump Since Dec 2014 | Zero Hedge

Silver Spikes To Six-Week Highs On Heavy Volume - Biggest Jump Since Dec 2014 | Zero Hedge: "Precious metals are angrily bid this morning (even as copper and crude tumble) after the dismal US jobs data sent the USD reeling and raised expectations for moar QE down the line. Silver is up 5% on the day - the biggest daily jump since Dec 1st 2014 and gold is up 2.2% - its best day since April."



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Payrolls Disaster: Only 142K Jobs Added In September With Zero Wage Growth; August Revised Much Lower | Zero Hedge

Payrolls Disaster: Only 142K Jobs Added In September With Zero Wage Growth; August Revised Much Lower | Zero Hedge: "And so the "most important payrolls number" at least until the October FOMC meeting when the Fed will once again do nothing because suddenly the US is staring recession in the face, is in the history books, and as previewed earlier today, at 142K it was a total disaster, 60K below the consensus and below the lowest estimate.

Just as bad, the August print was also revised far lower from 173K to 136K. And while it is less followed, the household survey was an unmitigated disaster, with 236,000 jobs lost in September."



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US created 142K jobs in Sept vs 203K expected

US created 142K jobs in Sept vs 203K expected:



"The U.S. economy created 142,000 jobs in September, a number that missed expectations and could cool expectations that the Federal Reserve will start raising interest rates soon.

Unemployment held at 5.1 percent, according to the Labor Department. A separate member that includes those who are working part-time for economic reasons or have not looked for employment fell to 10.0 percent.



 Economists had been expecting the report to show 203,000 new jobs, from the downwardly revised 136,000 in August (from the originally reported 173,000).

Fed officials have been keeping a close eye on the jobs number for clues about when it would be appropriate to raise interest rates for the first time in more than nine years. The unemployment rate has been declining steadily, but that has come in significant part due to the lowest labor force participation rate since the late 1970s."



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CNBC - Everything is A-OK. Real world - Falling apart. 3 Headlines - Below

CNBC Headline



Fiat Chrysler sales jump 14 pct amid big sector expectations:



 ""The U.S. is adding jobs, disposable income is rising, energy prices and interest rates remain low and business continues to invest, but the fact remains this has been a slow recovery," said Mustafa Mohatarem, GM's chief economist.

"The economy still has room to grow and so do auto sales, particularly now that the millennials are entering the workforce and starting households," he added."



GM Channel stuffing obviously at all time high





Zero Hedge Headline at exactly the same time



http://www.zerohedge.com/news/2015-10-01/does-not-compute-dol-continues-paint-rosy-jobless-claims-picture-challenger-sees-sur

Even more curious was the drop in Continuing Claims which declined from 2244K to just 2191K, below the 2,230K expected, suggesting tomorrow's NFP report should have no problem priting above 200K.

Which on the surface is great... and then one looks at the Challenger Job Cuts report released just an hour earlier, which painted a dramatically different picture. From theChallenger report:

The third quarter ended with a surge in job cuts, as U.S.-based employers announced plans to shed 58,877 in September, a 43 percent increase from the previous month, according to a report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The September total was third largest of the year behind July (105,696) and April (61,582). It was 93 percent higher than the 30,477 planned layoffs announced the same month a year ago.

In all, 205,759 job cuts were announced in the third quarter, making it the largest job-cut quarter since the third quarter of 2009, when planned layoffs totaled 240,233.

It gets even more confusing when looking at the full year trend, where one notices that so far in 2015, employers have announced 493,431 planned layoffs, 36 percent more than the 363,408 cuts tracked from January through September a year ago. The year-to-date total is actually 2.0 percent higher than the 2014 year-end total of 483,171. "The Q3 total was 40 percent higher than the previous quarter’s 181,213 job cuts. It was 75 percent higher than the third quarter of 2014, when 117,374 job cuts were announced."

http://www.zerohedge.com/news/2015-10-01/atlanta-fed-slashes-q3-gdp-estimate-50-just-09



Yesterday, when the Atlanta Fed boosted its Q3 GDP tracker from 1.4% to 1.8%, the permabulls were crowing how the global recession has been called off. We are confident they will be mysteriously mute, however, following today's dramatic revision lower which cut the number for the current quarter by half to just 0.9% as a result of the previously reported tumble in the advance report on U.S. international trade which slashed the Atlanta Fed's model contribution of net exports to third-quarter real GDP growth by 0.7 percentage points to -0.9%.



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