Consolidated NYSE volume today is on track for the biggest of the week but is on pace to be below 6b shares, completing the first week since the week of April 5th where we didn’t have one day above 6b shares. Even with the heightened volatility, the news flow has become paralyzing in the context of a still fragile global economy with daily government event risk (European sovereign credit issues, bailouts, Hungary politicians, German short selling rules, Chinese tightening, oil drilling moratoriums, the political abyss that is Japan, etc…) has made the market almost impossible to trade in the very short term.
