The King Report: SPX Manipulation ?
By Barry Ritholtz - June 1st, 2009, 6:31AM
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Trading sources allege that JP Morgan bought 2500 SPMs near the close on Friday.
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In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Macro Notes
US$ rally continuesPeter Boockvar
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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June 1st, 2009 at 7:43 am
Looks like that they might be gaming it this morning also.
June 1st, 2009 at 9:52 am
And so who goes to jail?
June 1st, 2009 at 4:19 pm
Mr Ritholtz: Forgive me for asking what is probably a “dumb” question, but what is/are SPM’s and how exactly are they being manipulated in this instance? Thanks.