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Started By
Message
Biden Admin is reportedly leaking bureau of labor statistics to Blackrock and JPMorgan
Posted on 4/11/24 at 10:38 am
Posted on 4/11/24 at 10:38 am
From Nancy Pelosi Stock Tracker:
The account on X doesn't appear to show any source material on this claim.
X
quote:
Blackrock and JP Morgan were leaked insider inflation data from the Bureau of Labor Statistics, giving their traders an edge on their bets
They along with other Hedge Funds were on a special email list called "Super Users"
The account on X doesn't appear to show any source material on this claim.
X
6
Posted on 4/11/24 at 10:42 am to TigerB8
BlackRock doesn't have a proprietary trading business, i.e. they don't trade for their own account, so any advantage from receiving information early would actually benefit their clients and BlackRock more indirectly. I don't know about JPM.
Posted on 4/11/24 at 10:49 am to TigerB8
leaked bad info or true info? What else could benefit them from BLS?
I wouldnt trust any data from biden administration to be quite honest, its all fluffed.
I wouldnt trust any data from biden administration to be quite honest, its all fluffed.
Posted on 4/11/24 at 10:50 am to momentoftruth87
quote:
I wouldnt trust any data from biden administration to be quite honest, its all fluffed.
I seriously doubt Jamie Dimon would, either.
Posted on 4/11/24 at 10:50 am to SlowFlowPro
Glad we agree on that.
So what’s the advantage here then?
So what’s the advantage here then?
Posted on 4/11/24 at 10:50 am to TigerB8
Now this seems like misinformation.
Posted on 4/11/24 at 10:54 am to momentoftruth87
quote:
So what’s the advantage here then?
This is just likely a lie created out of thin air to get reacts from the echo chamber.
The "FTX is laundering Ukraine money" of April insider trading content, if you will.
Posted on 4/11/24 at 10:56 am to RogerTheShrubber
quote:
Now this seems like misinformation.
Well this account regularly reports on actual stock trading traffic from Congress members and shows their illegal activity. So, their history is the reason I decided to post. Go back to playing World of Tanks.
Posted on 4/11/24 at 12:26 pm to TigerB8
I bet Duke & Duke was involved in this too... I saw a documentary detailing their history of trying to trade FCOJ futures based on leaked info.
Posted on 4/11/24 at 12:39 pm to RogerTheShrubber
Maybe. Wouldn’t you like to know or do you blindly trust politicians?
Posted on 4/11/24 at 12:40 pm to momentoftruth87
quote:
Glad we agree on that. So what’s the advantage here then?
Advanced notice of information that could sway markets is a pretty strong advantage.
Posted on 4/11/24 at 12:46 pm to SlowFlowPro
quote:
doubt Jamie Dimon would, either
True, but he would run to trading for with insider info they leaked to him
Posted on 4/11/24 at 12:47 pm to moneyg
Here is an article that explains further. There are companies getting this information like Millennium Capital Partners, Citadel, Moore Capital Management, etc..
JPMorgan, BlackRock among BLS economist’s CPI 'Super Users'
JPMorgan, BlackRock among BLS economist’s CPI 'Super Users'
This post was edited on 4/11/24 at 12:48 pm
Posted on 4/11/24 at 1:34 pm to TigerDoug
quote:
TigerDoug
Appreciate the assist with the info there!
Posted on 4/11/24 at 1:38 pm to TigerB8
I assume at this point that the large US corporations are basically working hand in hand with the government. Money drives this country over anything else.
Posted on 4/11/24 at 1:40 pm to TigerDoug
As expected, this does not reflect the intentional misinformation in the tweet OP cited.
Not likely proper dissemination of information, but nothing close to "insider information" that would help them make trades. They weren't given data, but more an explanation in how BLS calculated their publicly-reported information.
quote:
The BLS economist answered numerous inquiries about details within the consumer price index in recent months, mostly related to computations in key categories within shelter as well as used cars, according to records requested by Bloomberg.
quote:
Economists have been clamoring to find out more about these “super users” after the BLS staffer addressed an email to those people in February, suggesting that a change to the weights of underlying data within a key measure of rental inflation was behind its surge in January’s CPI. The BLS told recipients to disregard its contents, and subsequently tried to clear the confusion with a notice on its website. The agency also said that the email was “a mistake.”
quote:
The BLS economist often pointed users to relevant links on the agency’s website. But in at least one case, he shared information that wasn’t publicly available at the time, related to the calculation for the used cars index within the CPI.
Not likely proper dissemination of information, but nothing close to "insider information" that would help them make trades. They weren't given data, but more an explanation in how BLS calculated their publicly-reported information.
Posted on 4/11/24 at 3:43 pm to momentoftruth87
The advantage:
You find out before the market opens that their is a surprise in the inflation number higher than projected, means the fed is not going to reduce rates.........you sell short off hours and the market opens and drops 500 points.....come to papa baby needs a new pair of shoes......
Hell this leaked info and the insiders short selling probably CAUSED the 500 point drop.
You find out before the market opens that their is a surprise in the inflation number higher than projected, means the fed is not going to reduce rates.........you sell short off hours and the market opens and drops 500 points.....come to papa baby needs a new pair of shoes......
Hell this leaked info and the insiders short selling probably CAUSED the 500 point drop.
Posted on 4/12/24 at 9:36 am to TigerB8
"We are forcing behaviors" - Fink
Posted on 4/12/24 at 9:38 am to coolpapaboze
quote:
BlackRock doesn't have a proprietary trading business, i.e. they don't trade for their own account, so any advantage from receiving information early would actually benefit their clients and BlackRock more indirectly. I don't know about JPM.
That's a distinction without a different. Any benefit to their clients is a benefit to them.
Posted on 4/12/24 at 11:01 am to Bjorn Cyborg
Yes, I said that, not sure what your point is.
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