Stock market rigging leaked

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Global Recap
April 11, 2024 • Read in: 5 minutes

Hi Global Recap readers,

Well, we all knew that we were fighting the algorithmic trading bots, but insider traders..?

Nancy Pelosi and other US politicians aren’t the only ones investing in the largest securities market in the world.

(⏰ Reading Time: 5 mins)

UNITED STATES

Unfair stock market leak

If you thought you were playing a fair game in the stock market, think again.

A report reveals that a US government economist at the Bureau of Labor Statistics (BLS) directly leaked sensitive inflation data to major financial institutions, raising questions about fairness and confidentiality.

🔍 Inquiry. The economist in question was found to have exchanged emails with Wall Street “super users” about the consumer price index (CPI), an essential inflation measure. This interaction included providing non-public information on CPI calculations, particularly in the shelter and used car categories.

🚫 No List. BLS clarified that the term “super users” was used solely by the individual employee and is not an agency practice.

🏦 Wall Street Silence. Financial giants like JPMorgan and BlackRock, involved in the email exchanges, declined to comment.

VIETNAM

Ultra-rich sentenced to death

Who said the rich are untouchable?

Vietnam’s property tycoon Truong My Lan faces a death sentence for her alleged $27 billion fraud.

💰 Historic Fraud. Lan embezzled a colossal $12.5 billion from Saigon Commercial Bank. However, authorities now estimate the damage to be $27 billion - six percent of Vietnam’s 2023 GDP.

💰 Bribery. The trial revealed a record-breaking $5.2 million bribe offered to state officials, showcasing the depth of corruption within the system.

🇻🇳 Nationwide Impact. After her arrest in late 2022, hundreds of protestors took to the streets in the country’s capital, highlighting the plight of around 42,000 victims.

🚨 Crackdown. This sentencing is part of a broader anti-corruption campaign that has already seen over 4,400 indictments since 2021.

ISRAEL

Hostage crisis revealed

Is this why they’ve been evading the ceasefire deal?

Hamas recently admitted to lacking 40 living hostages that fit the swap criteria proposed for a ceasefire with Israel, sparking concerns over the actual number of casualties from the October 7 attack.

📃 Hostage Count: Originally, 240 hostages were taken; Israel reports 133 remain unreleased, estimating 33 fatalities.

🫱🏻‍🫲🏼 Ceasefire Stalemate: Negotiations are hindered by disagreements on truce duration and the return of displaced Palestinians.

ISRAEL

US warns of imminent attack

The US intelligence is signaling an imminent missile threat to Israel by Iran and its proxies.

🛢️ Oil Impact. Brent crude prices spiked over 1% to trade above $90 a barrel, reflecting the war risk premium fueled by the Middle Eastern turmoil.

⚠️ Redlining. Given the track record of US intel’s accuracy and Israel’s recent redlining, are we seeing the beginnings of a wider war?

UKRAINE

Draft law dilemma

Ukraine’s parliament faces a tough choice: support the military or the soldiers’ well-being.

🛡️ Mobilization. Ukraine’s parliament has rejected a proposal to allow long-serving soldiers to demobilize, opting instead to pass a draft law aimed at increasing military personnel.

🏠 Homecoming Halted. Soldiers who have served over 36 months were initially promised a return home. However, this provision was removed following interventions by key military figures, sparking public protests and disappointment among soldiers’ families.