Nanex ~ 10-Apr-2013 ~ Lowest Reaction to FOMC Ever?
Due to a premature release, the Fed posted the FOMC minutes
at 9:00 instead of 14:00 EDT. Given that fewer participants were in the market at 9:00,
we were surprised at the lack of market reaction. Depth dried up as usual, but no explosion
of trading activity that normally accompanies these announcements. Maybe the news was
already factored in (traded upon by those who received it early). Maybe the Fed should
consider always releasing news at 9:00am.
1. June 2013 eMini Depth of Book.