News Headline Summary

US Philadelphia Fed (Dec) M/M 8.1 vs. Exp. -3.0 (Prev. -10.7); Highest since April

- New Orders: 10.7 vs. Prev. -4.60; Highest since February
- Prices Paid: 27.80 vs. Prev. 27.90
- Employment: 3.60 vs. Prev.-6.80; Highest since April

Reaction details:

- Following the data release, e-mini S&P moved from 1,428.25 to 1,430.50, with T-Notes falling 3 ticks to 132.08+. Much of the risk-on knee-jerk reaction was due to not only the expectations beating headline, but also 2/3 of the components gained from the previous.

Print 15:00, 20 Dec 2012 - US Data - Source: Newswires