Markets suffer terminal trading with Bloomberg outage

Well anyone reading here already knew this, but WSJ’s Jon Hilsenrath — often referred to as the Fed’s mouthpiece — writes that the Fed may not be able to raise rates at June meeting.

As Hilsenrath writes, recent data has been soft. As I have written, data has been soft all year going back to holiday retail sales in Dec.

I have said and still hold true that there will be no rate increase in 2015 at all. I won’t go as far to say the Fed will begin new QE, I think that is early 2016 as deflation gathers steam.

As an aside, the reason I say Hilsenrath is the Fed’s mouthpiece is that he puts up a 700-word story 2 minutes after a Fed announcement. Seems someone had the information prior or he is the world’s fastest typist who can distill arcane data at record pace.

So Bloomberg terminals crashed globally early Friday morning here, just as Europe was beginning trading. The Brits cancelled a multi-million bond buyback figuring if traders could not chat with each on price then the market might get true price discovery and no one wants that. lol

Equities across the open global market cratered with Dow futures falling 150 points.

“We are currently restoring service to those customers who were affected by today’s network issue and are investigating the cause,” a Bloomberg spokesman said.

No word if the system was hacked.


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