not good: Capital goods orders (minus non-defense aircraft sector) plummeted for 2nd month in a row

[stockholmer]

They printed at -1.9% on expectations of a 0.8% print. And the March number was revised sharply downward from -0.8% to -2.2%.

http://www.census.gov/manufacturing/m3/adv/pdf/durgd.pdf?tw_p=twt

Major downward revisions to US Q1 GDP will be coming soon, along with downward projections for Q2.

The Fed will be under tremendous pressure to unleash QE3 (in some form under another gimmick name) at its June meeting, which will ignite not only core inflation and dollar depreciation (thus dramatically higher consumer prices), but a shitstorm of political controversy too, this close to the November election.