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Bloomberg Statement On "Inadvertently" Breaking Fed Minutes Embargo

As we first noted, nearly half an hour before the official release time of FOMC the minutes, Bloomberg broke the embargo by blasting a headline to subscribers...

Jesus embargo broken

— zerohedge (@zerohedge)

Just out from BBG: MOST FED OFFICIALS IN JULY SAW CONDITIONS FOR RATE RISE NEARING

— zerohedge (@zerohedge)

... which, due to its hawkish tone, send yields higher before everyone else joined in in breaking the embargo and showing that the broader context was really far more dovish than expected leading to the jump in stocks.

So what happened? This is what a Bloomberg spokesperson said: "In the process of preparing embargoed material we inadvertently sent a headline ahead of the embargo."

Well, with HFTs legally frontrunning everyone else, and the Fed admitting it openly leaked minutes at least once a full day before the official release, one can probably say that in the grand scheme of things this was an improvement.