How big has the global sell-off that began last summer been? Simply huge. Record numbers of stocks have traded hands on exchanges in Chicago, London, New York and Frankfurt, according to Bloomberg. But don’t get too long the exchanges yet. Fees are down, and many investors may simply be exiting the market altogether. The news out of Davos isn’t pretty.
“It’s been a good outcome for us in the short term, but we certainly have our concerns,” NASDAQ CEO Robert Greifeld told Bloomberg from Gnomeland. “We recognize that longer term, if we have economic issues, the trading volume will tend to go down. Our clients are all very concerned.”
Replace if with when (or, perhaps even with “now that”) in that quote and you’ll understand why even the exchanges aren’t popping champagne corks over the recent volume spike.
Seized-Up Credit Market Spurs Record Stock Trading [Bloomberg]
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I will stick with CME thanks. Deal of Nymex adds some spice today
There’s apparently one in Australia. How the hell was it up 5% today with Asia crashing around it? Even NZ was down.
(I could probably figure this out on my own but I’m lazy…)
Australia was closed today, public holiday. 5% is from last Friday.
Oh yeah, Australia Day, I’m an idiot. Well, at least I got my stupid comment of the day out of the way….
especially since Timmay sold off his portfolio of big hitters and exited the business. Now he’s just selling himself, which, in my opinion, is worse than any pink sheet around.