Financial News Agency, May 16 (Editor Xiaoxiang) The U.S. Bureau of Labor Statistics (BLS) inadvertently released April consumer price index (CPI) data 30 minutes early on Wednesday.
Given that this data is currently almost the most influential set of U.S. macroeconomic indicators on global financial markets, this own incident has further raised questions about the security and fairness of the agency\’s release of sensitive data.
Although there is currently no obvious sign that the early release of data will have an impact on the market, this incident may prompt people to pay close attention to the release process of blockbuster data that has an impact on global asset prices and Federal Reserve policy.
The U.S. Bureau of Labor Statistics said in a statement posted on its website late Wednesday that ahead of today\’s release of consumer price index and real income data, the bureau accidentally loaded a portion of the document onto its website about 30 minutes early.
The BLS usually releases its monthly CPI report at 8:30 a.m. local time in Washington, and is subject to strict protocols to prevent its early release.
Investors and central bankers have long watched the data closely as they try to find signals about the direction of the economy and influence the Fed\’s interest rate decisions.
The only good thing about Wednesday is that not many people seemed to have discovered the mistake made by the U.S. Bureau of Labor Statistics.
At 8:30 ET on Wednesday (20:30 Beijing time last night), when financial news agencies such as Bloomberg and Reuters reported the official CPI data at the scheduled time, U.S. stock index futures jumped immediately. U.S. bond yields also jumped in the short term. Falling sharply. The S&P 500 finally closed at a record high on the day.
In the half hour between the advance release of data and the scheduled release of data, the market did not experience violent fluctuations.
Mingze Wu, currency trader at StoneX Financial, said. I suspect that the entire market is not trading because of the early release of the data.
Nonetheless, he pointed out that if traders realize that data has been released in advance, 30 minutes is actually a very long time for them to react.
In other words, they can do a lot with it.
This is not the first time that the market has questioned the U.S. Bureau of Labor Statistics? It is worth mentioning that this is not the first time that the U.S. Bureau of Labor Statistics has been involved in controversy due to data leaks and fairness issues.
We reported last month that an economist from the U.S. Bureau of Labor Statistics (BLS) had been in frequent correspondence with large Wall Street institutions such as JPMorgan Chase and BlackRock regarding data on key U.S. inflation indicators. This quickly triggered Public opinion questioned the fairness of access to economic information… The New York Times was the first to report on the dealings between financial companies and this economist who has worked for BLS for many years.
It is reported that he sent multiple emails to a wide group of people. In one of the emails obtained by the media, he called this group my super users.
The BLS has previously promised that it will not maintain a list of super users.
In addition, on the last CPI release day in 2022, just a few dozen seconds before the official CPI data was released, there was a sudden surge in U.S. Treasury bond purchases.
U.S. Treasury futures surged rapidly at the time, immediately triggering concerns about potential leaks or hacking attacks.
The BLS said at the time that it had found no evidence that its systems had been compromised or any suspicious activity surrounding the release of the data.
At present, the U.S. Bureau of Labor Statistics said in its latest announcement that it has notified the U.S. Office of Management and Budget and the Office of the Inspector General of the Department of Labor about Wednesday’s incident.
The agency reiterated that BLS takes data security very seriously and is conducting a comprehensive investigation into its procedures and controls to ensure that this incident will not happen again.
CPI leaked 30 minutes in advance? The U.S. Bureau of Labor Statistics made another huge mistake last night!
Financial News Agency, May 16 (Editor Xiaoxiang) The U.S. Bureau of Labor Statistics (BLS) inadvertently released the April Consumer Price Index (CPI) data 30 minutes early on Wednesday.
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