2024-04-18 18:19:17
Interestingly, this strategy came to light after a Bureau of Labor Statistics economist shared insider inflation data with major Wall Street firms, including several major asset management players.
BlackRock had access to inflation data
According to records obtained by Bloomberg, several major financial institutions corresponded directly with a US government economist on key inflation data.
The economist reportedly answered a number of questions regarding the Consumer Price Index data., including in the category of accommodation and used cars. Although the economist generally directed financial institutions to the relevant links on the Bureau’s website, in at least one case it disclosed information that was not yet publicly available.
Based on the correspondence, it can be seen that the economist provided a detailed overview of a selected group, which he called “my super users”.
This information gave traders a huge advantage. How can this not be insider trading?
– Your question was asked by the site X called Insider Tracker.
The discovery was followed by an investigation into the possible effects on the trading of the instruments and on Central Bank policy. In her response, Emily Liddel, one of the Bureau’s administrators, emphasized the agency’s commitment to due process.
The Bureau of Labor Statistics does not maintain a list of “super users.” We took this opportunity to strengthen our customer service standards and all of our training.
Obviously, this was embarrassing for the agency. The public has a lot of trust in us to be fair, and data providers have a lot of trust in us to keep their data secure. Our goal is to restore that trust.
– He explained in detail with Lid.
According to the report, the economist corresponded with the following major financial institutions. Citadelle, BNP Paribas, Millennium Capital Partners LLP, Brevan Howard, Moore Capital Management, High Frequency Economics and Nomura Securities International. None of the institutions mentioned above responded as of Wednesday afternoon.
After the International Monetary Fund recently warned the United States about its budget deficit, which it said was fueling inflation and presenting global risks.the strategy around bitcoin is becoming more and more important. BlackRock CEO Larry Fink recently shared his positive views on Bitcoin.
Fink explained that he has confidence in Bitcoin in the long term. But, he said, he did not expect it to be of such public interest. request and the exchange rate will increase. This optimistic view is borne out by the performance of BlackRock’s iShares Bitcoin Trust (IBIT), which has accumulated over $15.3 billion, making it the fastest-growing ETF.
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