Department Of Wealth Effects Pull SPY Borrow In Last Ten Minutes Of Trading, Causes Green Close
Just because a red close in the only index the Department of Wealth Effects tracks, the Dow, would seem oddly suspicious in a market that is now entirely controlled by Benny army's of Hewlett Packard inkjets, we get news from two trading desks that the SPY just went HTB in the last ten minute of trading, coupled with some forced buy-ins for good measure. The farcical result is presented below.
Update: News from Boeing after close that the 787 is being delayed again explains why the Dow just had to close green. The stock is now plunging after hours which would have meant a complete drubbing in the Dow. And yes, the durable orders report is about to be revised far lower as aircraft deliveries was a consistent reason for beats in the past 2 quarters.