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Subject SOMETHING FISHY HAPPENED IN CHICAGO AFTER THE FED MADE A MAJOR ANNOUNCEMENT LAST WEEK
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Original Message The United States Federal Reserve announced last week that it would not draw downits $85 billion-a-month bond-buying program (i.e. no “tapering”). The Fed made the announcement at precisely 2:00 p.m. EST, “as measured by the national atomic clock.”However, just seven milliseconds after the Fed made its announcement, the Chicago exchanges went crazy with huge orders. Seven milliseconds.

The Fed’s decision, as always, was closely guarded before it was announced.

How did Chicago react so quickly?


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