Friday, October 28, 2005

Market Soars on Indictment News

I hate the tendency of reporters to link events which likely will have no real impact on financial markets to those markets. Wednesday:

NEW YORK (Reuters) - The U.S. dollar may weaken, along with stock and bond prices, analysts say, if the investigation of the leak of a CIA agent's name results in indictments against White House insiders.

The grand jury investigation is due to conclude by Friday, amid signs the prosecutor in the case is preparing to seek criminal charges over the leaking of CIA operative Valerie Plame's identity in 2003 after her diplomat husband Joseph Wilson accused the Bush administration of misusing intelligence prior to the war on Iraq.