From the SEC to HFT - Everyone knows that former politicians become lobbyists, so it shouldn't be a surprise that ex-SEC associate directors become high-frequency traders!
This was on Reuters today: "SEC Associate Director King to Join High-Frequency Trader and 'Supplementary Liquidity Provider' GETCO"
A short I'm considering: I anticipate a $2 billion to $2.5 billion secondary shortly.
There were a few economic releases overnight from outside of the U.S. -- in the U.K and China -- * U.K. April Industrial Production dropped by 0.4% vs. expectations of a modest rise. U.K. May inflation worsened, too.
* Inflation in China rose at an annual rate of 3.1% in May, up from 2.8% in April, hotter than expectations and standing at a 19-month high. Industrial production dipped modestly below consensus forecast and below the April rate of growth.
Domestically, my concerns regarding the deepening financial disarray of our state and local governments grow clearer:
* New Jersey raises property taxes.
* New York state is considering paying bills with IOUs to avoid a shutdown of services.
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