the article is still up http://biz.yahoo.com/rb/040402/economy_jobs_1.html ..with the 8:28am time stamp (i just pulled it up around noon) ...unless mine is cached - how bout yours?
reuters or another of the big wire news feeds was early by a few minutes but with wrong data? that also could possibly cause harm.
incredible that's twice now but we saw 130'00 on the ZN coming that was inevitable. I caught the trade in the right direction this time I had a stop 114'22 that got filled at 114'13 , 9 ticks slippage but still managed to exit at 113'00. SWEET, talk about a ride yikes
From CBS Marketwatch: "The sharp drop in the bond market began several minutes before the 8:30 a.m. release time, Bloomberg reported. Labor Department officials said they have noticed speculative activity ahead of previous payroll reports, but promised to look into whether the data was selectively released earlier. " They promised to look into whether the data was selectively released earlier?!!! what the hell does that mean, if there is even a remote possibility that someone is given the info before the official release this is an outrage. I think we need a serious inquiry into this. I don't like when some people don't play by the rules. It's like the Michigan survey what a f*cking joke , Ibanks had it 2 weeks in advance!
Just had a short look at the dates: no, if there is a pattern to them at all, it is not the first Friday. Regards Bernd Kuerbs
I bought some bunds at 114.31 and 114.27 before the report. I assumed the market was simply triggering some big stops, or that the report was out to "insiders" and their selling had triggered stops. It then ramped massively and I sold at 115.04 and 115.09 before 14:30, only 17-28 seconds after getting filled on my bids. I only had a small position on, but was crapping my pants for a moment or two, as the market was going 10-20 ticks at a time, with 5-15 tick gaps between the bid-offer spread. That was the craziest Bund trading I've seen, including the LTCM panic. The news was released 2 mins early by Reuters. All quote providers get the data early, but they embargo it until the time the report is meant to get published. Reuters from some reason released it beforehand.
Why the news feeds have to have the "news" before it is released officially is beyond me. It would make it a worthwhile career to be a journalist for one of them, and just trade of the data before it is released, be it 8:30 or 8:28.
I agree. This time it was so obvious. I mean those people obviously have no idea about trading, otherwise they would have disguised it a little better. Also, they are either not the brightest (otherwise they would have hired someone who could have entered the trades for them in a more subtle way), or they are confident that there WILL NOT be a criminal case. At least this gives us the opportunity to know once and for all if there is anyone of consequence who is not in bed with these particular crooks. If there is no criminal case, then there will be no doubt in my mind. Every chimp who has been trading for a couple of years knows enough to find this activity more than suspicious, and it's not like the money that goes through ECBOT is anonymous. Sure you might not get the real crook right away, but if you are a regulator who has not been bought, you start by charging whoever appears to have profited from this crime and see what that person comes up with in his defense. By the way, come to think of it, there HAS also been some more covert selling activity in ZB over the last couple of days. I first noticed it early Thursday morning. Like I said, it was more subtle than the barbarians who sold today at 8:28, but it nevertheless appeared rather suspicious. Did anyone else with intimate knowledge of how ZB and ZN have been moving these months notice it? It is also possible that this more subtle activity was NOT caused by illegal inside information. I am sure there are plenty of organizations out there who felt the need to hedge for today's number, and they most likely DO have traders who know what they are doing and try to cover their tracks as best they can. Even if you're not doing anything illegal, why would you want the world to know how many billions worth of treasury futures you are selling? Also, whoever is behind today's illegal activity, this is still nothing compared to what's really going on. Don't be angry at these crooks. If you need someone to blame for your misery, look at those who have the blessing of the law. (Hint: This a$$ wipe is legal tender for all debts, public and private) The trades at 8:28 might have cost you a few thousand bucks. TPTB are costing you half your life. Take a look at your 1040 to see part of the proof. Then factor in sales tax and inflation, and there won't be many of us who don't pay our masters at least half of their earnings. This is how it has always been all over the world, well almost always. The Americans tried to break away from the British empire, and for about a century it looked like they were going to succeed. That was, of course, before the Frederal Reserve Act.