JimBowie1958
Old Fogey
- Sep 25, 2011
- 63,590
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The people who rig our political system also rig the markets too.
So why dont we just hang all of them and call it a wash?
U.S. data is being leaked, ECB study suggests
Key U.S. economic information may have been leaked ahead of its release, judging from the price moves in key equity and bond futures contracts, according to a study released Monday.
The European Central Bank published a working paper — which means it hasn’t been peer reviewed as yet — arguing that seven out of 21 market-moving announcements show evidence of “substantial informed trading” before the official release time.
The paper identified seven indicators that they said showed “strong” evidence of pre-announcement drift: The Conference Board’s consumer confidence index; the National Association of Realtors’ existing-home sales report and pending-home sales report; the Commerce Department’s preliminary GDP report; the Federal Reserve’s industrial production report; and the Institute for Supply Management’s manufacturing and nonmanufacturing index.
The authors looked at price movements 30 minutes before that data’s release and studied the movements in futures on the S&P 500 index and 10-year Treasury note. They did this on 21 indicators from January 2008 to March 2014.
So why dont we just hang all of them and call it a wash?
U.S. data is being leaked, ECB study suggests
Key U.S. economic information may have been leaked ahead of its release, judging from the price moves in key equity and bond futures contracts, according to a study released Monday.
The European Central Bank published a working paper — which means it hasn’t been peer reviewed as yet — arguing that seven out of 21 market-moving announcements show evidence of “substantial informed trading” before the official release time.
The paper identified seven indicators that they said showed “strong” evidence of pre-announcement drift: The Conference Board’s consumer confidence index; the National Association of Realtors’ existing-home sales report and pending-home sales report; the Commerce Department’s preliminary GDP report; the Federal Reserve’s industrial production report; and the Institute for Supply Management’s manufacturing and nonmanufacturing index.
The authors looked at price movements 30 minutes before that data’s release and studied the movements in futures on the S&P 500 index and 10-year Treasury note. They did this on 21 indicators from January 2008 to March 2014.
