Fed leaks lead to billions on Wall Street balance sheets

My collegue at The New York Post, John Crudele, wrote on Monday about how the New York Fed President Bill Dudley, back in 2011, was meeting with the Street during “quiet periods” at the Fed. Crudele FOIAed Dudley’s calendar to see who is was lunching with during the tumultuous time in 2011.The quiet period is […]

Did Draghi find a horse head in his bed Friday morning?

Quick timeline: Thursday of last week ECB chief Mario Draghi (former chief of Goldman Sachs in Italy) pulled out a pop gun when markets were expecting a bazooka for EQE and global market sold off hard. On Friday, Draghi spoke in Lower Manhattan at the invite of NY Fed chief Bill Dudley (former Goldman director) […]

Goldman’s 4 horsemen of the Fed

Neel Kashkari, who oversaw TARP –the government’s bailout of big banks during the financial crisis — was named the next president and board governor of the Minneapolis Federal Reserve on Tuesday. Kashkari is the 4th Fed president sitting on the board to have ties to Goldman. He also joins his Goldman colleagues in having a […]

New ‘Twist’ on Fed’s rate rise

Bond futures are now betting no rate hike until March of 2016. This goes with my post from two months ago that your World Champion NY Mets would be playing baseball again in spring before any hike could be discussed, never mind implemented. We get three Fed speeches today including NY Fed chief Dudley and […]

Rage against the algo

This week’s US equity trading is all about the robots taking over. The markets have been the victim of High-Frequency Trading. The black boxes whipsawed stocks back and forth with little regard for anything but the next sub-penny move. Many 200 pts. down, 300 pts. up intraday moves have the hallmark of algos grabbing pennies […]