Goldman, the treasury and nonfarms

N

NoteBoy

The markets seemed to have the number today about 30 seconds early. Any idea where it came out?


Don't mind my thread title, just trying to appeal to the consipracy theorists among us. ;-)
 
equally hilarious was snows announcement, post USD tanking 1% in 10 seconds, that the white house will pursue a strong dollar.uhhhh didnt they just fire this guy?
 
Nah, everything I know of announced it at 8:30 sharp, and the BLS claims everything with the release went normally, but some in the markets clearly had the number as there was sustained buying (ie not a stop, it went up and stayed there) in debt futures well ahead of time.
 
There is no doubt that someone had the NFP number.

20-seconds before that number all fixed income instruments were bought up. Most notably the bond futures and cash.

I've never ever seen all of them bought up at the same time, before a NFP CPI, PPI etc.

One or two instruments, yes. That'd be someone taking a shot. But ZB, ZN, ZF, ZT, 2y, 3y, 5y, 10y and 30y cash? Never.

It's easy to run a program that simultaneously buys or sell any combination of contracts. I know, I do it.

I have all contracts mentioned above on the screen including several Fed Funds and Eurodollar contracts. FF and ED didn't move. The treasuries did. Look at time and sales.

What sucks about this is that it takes 3-years to bring people to justice.

I was in the 30-year futures pit the day they announced the cancelation of the long bond. I watched locals lose millions as GS stole money from everyone. It took years for the justice department to bring the guilty parties to court and convict them. We are in for the same thing this time.

Little-by-little we'll get small news- stories about what happened Friday. Then, the official investigation. Count on it.

This is the first time I've seen this done electronically. This crap makes me ill. It gives such a bad name to this business, which I've been since 1979.

I was in the bond pit for the famed 'wig n' mustache' buy of the bonds and the bond options which happened twice, in the 1980s. I was there for the FBI sting (which netting nothing). I've seen so much but this is the first (of many to come) electronic scams. I hope they burn the bastards.

Just tryin' to scalp-it,
scalperjim
Chicago, IL
 
interesting... thought it had started (3.5) minutes before the figure, not just 20 secs... how difficult can it be to find out who did the buying really?? doesn't the cme keep records? ;-))) i hear its such a transparent market...
 
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