Well duh, Bush was boasting about a "strong" Economy the night before and said "His" Policies are working and it's getting stronger. Snow said "I think we'll see that we are beginning to create a lot of new jobs." on Thursday.
I didn't realize the significance of that even until they showed it's like having a loaded pair of dice on the Stock Market:
It's obvious the numbers made it to Europe and then came back this way.
4-4-2004 Regulators Eyeing Possible Jobs Data Leak
The U.S. Labor Department and market regulators said on Friday they were looking into a possible leak of employment data because of significant moves in financial markets before official release of the report.
Some analysts are convinced the surprisingly robust jobs report was leaked before its official 8:30 a.m. EST embargo, causing unusually large price movements in financial markets bout two minutes before the official release time.
Bond, currency and stock futures markets all showed moves greater than the usual volatility that is often seen ahead of the release of closely watched economic data.
TRADERS SUSPICIOUS
Many market players believe the data began to leak into the market a few minutes before the official release time.
"You can see the price action. It smells like a leak and walks like a leak. It happened two minutes before the release ... You could see the euro was selling off against the dollar," said Monica Fan, chief currency strategist for Europe at Royal Bank of Canada.
Several groups of people get an early look at the payrolls report. Bureau of Labor Statistics (BLS) officials have parts of the data for several days before it is released, but security at the agency is tight.
On the day before the release, the number is given to President Bush through his economic team, the Council of Economic Advisors. The BLS said it gives the data to no one else. Neither the Labor Secretary, Elaine Chao, or Federal Reserve Chairman, Alan Greenspan, see the data ahead of its release, though it is widely believed Bush's advisors share the data with key cabinet and Fed officials so they can prepare a response.
Finally, 30 minutes before the 8:30 a.m. embargo, journalists are given the data in a locked room at the Labor Department. Communication is restricted and journalists agree not to transmit the data early.
I didn't realize the significance of that even until they showed it's like having a loaded pair of dice on the Stock Market:
It's obvious the numbers made it to Europe and then came back this way.
4-4-2004 Regulators Eyeing Possible Jobs Data Leak
The U.S. Labor Department and market regulators said on Friday they were looking into a possible leak of employment data because of significant moves in financial markets before official release of the report.
Some analysts are convinced the surprisingly robust jobs report was leaked before its official 8:30 a.m. EST embargo, causing unusually large price movements in financial markets bout two minutes before the official release time.
Bond, currency and stock futures markets all showed moves greater than the usual volatility that is often seen ahead of the release of closely watched economic data.
TRADERS SUSPICIOUS
Many market players believe the data began to leak into the market a few minutes before the official release time.
"You can see the price action. It smells like a leak and walks like a leak. It happened two minutes before the release ... You could see the euro was selling off against the dollar," said Monica Fan, chief currency strategist for Europe at Royal Bank of Canada.
Several groups of people get an early look at the payrolls report. Bureau of Labor Statistics (BLS) officials have parts of the data for several days before it is released, but security at the agency is tight.
On the day before the release, the number is given to President Bush through his economic team, the Council of Economic Advisors. The BLS said it gives the data to no one else. Neither the Labor Secretary, Elaine Chao, or Federal Reserve Chairman, Alan Greenspan, see the data ahead of its release, though it is widely believed Bush's advisors share the data with key cabinet and Fed officials so they can prepare a response.
Finally, 30 minutes before the 8:30 a.m. embargo, journalists are given the data in a locked room at the Labor Department. Communication is restricted and journalists agree not to transmit the data early.
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