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Al_Dente wrote:te_fern wrote:Trades with cats wrote:I do not know when pension funds do their re-balancing calculation. I know they did not know about the tweet in advance. But IF they still have 12 billion to deploy there could be a bounce. I am guessing that the New York broker dealer banks will be "helping" them, as well as managing increased corporate buybacks.
TWC, when I worked for a pension plan we rebalanced the day after a trigger was hit between stocks and bonds. We didn't wait until the end of the month. I would think larger plans managing their own money rebalanced almost immediately, smaller plans using advisors may wait until the end of the month.
We received a report every morning showing where we were relative to rebalancing...
what was the trigger, boss?
Trades with cats wrote:Largish order book at the ES 2770 level stopped the move. Euro area traders going to the pub to think about who will lead them politically.
Pretty sad that we only got a difficult 10 points up from the opening print with lots and lots of consolidation blocks along the way. Should mean that it won't fall fast. We will see.
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