Wall Street traders have lost much of their swagger

Bloomberg/Aaron Brown/3-1-2023

“The findings suggest a trading environment that is becoming less bold and more cautious with implications for the reaction function of financial markets that is very different than what we have become accustomed to.”

USAGOLD note: Brown bases his conclusions on a study of market traders conducted by the New York Fed, USC, and the University College of London. “[T]he trading community no longer has the strength to make fearless bets.” One wonders if the same shift has occurred among retail day traders.