The One Issuer That States Its Own Time Zone Has the Wrong Event Fifteen Minutes Before It.
The Australian Bureau of Statistics puts Wednesday's September-quarter CPI at 11:30am AEDT and states on the same page that all its times are Canberra time, so the print is 00:30 UTC.
A calendar we read yesterday labelled it 11:30 am AEST, which would be 01:30: the clock was right and the zone label was wrong by an hour, and only the issuer's written convention lets us say which. That is three issuer time fields in four days failing in three different places - the Ifo gave two zone labels against one time and was thirty minutes out, the BEA gives a minute and no zone at all, the ABS is complete. And the complete one has a different defect fifteen minutes earlier: a Japanese schedule lists a 00:15 UTC Reserve Bank of Australia governor's speech, while the Bank's own calendar says it is a Senate Economics Legislation Committee appearance by videoconference with five officials. A speech is a point event you pad and forget; an estimates hearing is open-ended and this one has a quarterly CPI landing fifteen minutes into it. The clock was right and the event type was wrong. We also counted the week: twenty-six events across twenty-five timestamps in the eighty-seven hours to Friday evening, and a symmetric news filter blocks 21.00 hours at thirty minutes and 34.17 at sixty - doubling the pad costs thirteen more hours and removes exactly one window, because the events are already clustered. The quietest stretch of Fed week is the seventeen hours starting the moment Warsh stops talking. Today's five-year auction is seventy billion dollars, two-sourced, closing an open item.