Despite the Dow Chemical rumors and Warren Buffett’s big railroad announcement, things have been pretty quiet all around today. The New York equities markets traded up a bit but have been mostly listless, despite that strong employment report on Friday and a three-day market close. We have a pretty strong rule against speculating—much less authoritatively pronouncing—why the markets did this or that. Our universal answer is, “The stock markets went (up, down, or sideways) because of the cumulative effect of buying and selling.”
But we’re happy to speculate about things other than market movements. And we’ll start with out own. Email traffic is down. (If you’ve got a tip, send it our way: firstname.lastname@example.org) Comments are quiet. Even Bess Levin’s provocative crime and hedge fund honey question didn’t get the response we expected.
Friends of DealBreaker at hedge funds and investment banks are reporting a similar quiet. One loyal DealBreaker reader writes:
I have received precisely zero calls from counterparties today. My Bloomberg traffic is running at about 10% of normal. I don't remember the Monday after Good Friday as such a dead day in year's past.
He goes on to ask whether this is evidence that "the gravity of the financial markets has shifted" from New York to London? Are London’s holidays now market holidays? Are we all Londoners now?