{"id":122246,"date":"2014-06-02T15:59:23","date_gmt":"2014-06-02T15:59:23","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/?p=122246"},"modified":"2014-06-02T15:59:23","modified_gmt":"2014-06-02T15:59:23","slug":"financial-markets-rigged","status":"publish","type":"post","link":"https:\/\/rinf.com\/alt-news\/money\/financial-markets-rigged\/","title":{"rendered":"Are Financial Markets Rigged?"},"content":{"rendered":"<p><em>Pam Martens<\/em><\/p>\n<p style=\"color: #000000;\">One critical gauge of how fair and efficient a market is resides in the degree to which it reflects the composite wisdom of all participants. A rigged market, for example, reflects the composite wisdom of just those doing the rigging since they are privy to information that is not shared with all market players.<\/p>\n<p style=\"color: #000000;\">On March 30, bestselling author Michael Lewis appeared on\u00a0<em>60 Minutes<\/em>\u00a0to summarize the findings in his newest book,\u00a0<em>Flash Boys<\/em>, as follows: \u201cstock market\u2019s rigged.\u201d Michael Lewis was talking about stock market manipulation by high frequency traders.<\/p>\n<p style=\"color: #000000;\">Increasingly, the U.S. bond market is delivering almost the same message as Michael Lewis. The U.S. Treasury market, which is experiencing a flight to safety (that suggests a slowing economy, lower corporate earnings and thus a lower stock market in the future) is essentially saying that the current composite wisdom of the stock market is either nuts or the market is, indeed, rigged.<\/p>\n<p style=\"color: #000000;\">Stocks have been setting new highs of late while the yields on the benchmark 10-year and 30-year Treasurys decline. The 10-year Treasury began the year at a yield of approximately 3 percent and closed on Friday at a yield of 2.49. The 30-year Treasury started the year at a yield of approximately 4 percent and closed last week with a yield of 3.33 percent.<\/p>\n<p style=\"color: #000000;\"><a href=\"http:\/\/wallstreetonparade.com\/2014\/06\/is-the-market-crazy-treasurys-are-screaming-crisis-while-stocks-yawn\/\" target=\"_blank\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pam Martens One critical gauge of how fair and efficient a market is resides in the degree to which it reflects the composite wisdom of all participants. A rigged market, for example, reflects the composite wisdom of just those doing the rigging since they are privy to information that is not shared with all market [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[487,52,1616],"tags":[],"class_list":{"0":"post-122246","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-breaking-news","7":"category-money","8":"category-usa-news"},"_links":{"self":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/122246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=122246"}],"version-history":[{"count":0,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/122246\/revisions"}],"wp:attachment":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=122246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=122246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=122246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}