Three years ago there was outrage among traders when HFT marketmaker Virtu reported that it had managed to log just one day of trading losses in over 4 years of trading. Many speculated that this was proof that HFTs had managed to effectively rig the market in a way that prevents any trading losses. It now appears that Virtu is not the only one with a near-perfect trading record.
Trump is the perfect court jester for the time, a clown sent into the three ring circus to cheer society’s forlorn and make them forget, at least temporarily, the hopelessness and banality of their existence. He could not have won in the past, and will not win in the future, but dumb luck and serendipity---plus the Democrat’s foolhardiness in selecting their most polarizing candidate ever---allowed him to seize his brief moment in time and exploit it.
Until yesterday, the prevailing Wall Street consensus was that in the absence of specifics from President Trump on his economic and fiscal plans, the market would be disappointed, and proceed to slide. It did not, in fact quite the opposite.
While most of America, even highly polarized democrats, was by and far satisfied - and in the case of Trump's fervent fans, delighted - by Trump's first address to Congress as confirmed by a CNN snap poll shortly after the speech, some were outright disappointed. Chief among them were Wall Street traders who had expected Trump to provide more details about his economic policies and some insight into how he plans on achieving his lofty goals.
As previously noted, while some traders on Wall Street were disappointed by the lack of specifics in Trump's speech, many others - and certainly Trump's group of core, faithful supporters - praised his "milder", more conciliatory tone, in a speech that was among his most "presidential" public addresses to date.
Below, courtesy of The Hill, are five of the key takeaways political pundits were left from Trump's address to Congress.
Trump’s speech was conventional, a relief to the GOP