NYSE Volume Abysmal: 40% Below Average
Call it the no volume melt up, edition XYZ. Total NYSE volume 8 minutes before close is 662.15 compared to an average of 1133. In other words today's latest market upswing is due to market participation that is 40% below average. Don't look for any bank to make money on commissions with days like today. Which unfortunately is increasingly more what the typical daily volume is starting to look like. And with the curve starting to flatten, soon none of the banks "adjusted" drivers of top line strength will be much of a factor. Let's hope that M&A activity picks up or else Q1 financial earnings will be, just like in Q4, only up to par due to another multi-billion "reserve and NPL reduction" accounting scam.
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