Citadel Securities this week opened an office in Florida to help ensure billionaire Ken Griffin’s giant trading firm can continue at full capacity during the coronavirus pandemic — and cope with the explosion in volume the illness has spurred.
The firm opened a new, temporary trading floor in Palm Beach on Monday with 24 people, according to a memo from the firm to employees seen by Bloomberg. The market maker debuted the facility two days before Florida’s governor announced a stay-at-home order for the state of 21.5 million……..
Welcome to PBHFA’s April missive!
What incredibly strange days we are experiencing in and out of the financial markets.
The major U.S. stock market indexes have bounced hard off of last weeks lows but the rally has stalled with prices dropping from the near term highs. Is this nothing more than a dead cat bounce or signaling a climb out of the abyss?
Market bears point at the expected worse numbers in US economic history while the bulls focus on the trillions of stimulus cash about to flow into the marketplace.
While no one really knows what will happen, I am in the bullish camp. My bet is the stimulus will supercede the extreme negativity in the economic & corporate numbers by an order of magnitude. Time will tell!!