UM: Consumer Sentiment Data

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Writing in the New York Post, columnist Jonathon M. Trugman criticizes the University of Michigan for “cheating” individual investors. Trugman writes: “Last week the university admitted that it releases market-moving consumer-sentiment data to business partner Thomson Reuters’ high-paying clients five minutes before everyone else gets the information. And the data are given to higher-paying high-frequency trading clients two seconds earlier than that. It’s all quite legal, but it certainly isn’t fair. And if it isn’t fair, then it isn’t a free market – and that’s the point.” [Source]