cstauffer

Down Fridays

Hedge fund fiscal year end with large unrealized gains over the preceding 6 months means that they most likely felt compelled to lock in those gains ahead of the GDP report in case it came in short. Let's not also forget that the Galleon hedge fund, which I believe was $30 billon was unwound over the last seven trading days or so. On balance, earnings and the economic numbers over the last two weeks did not change the outlook of the economic recovery for better or for worse.