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MacroVoices #333 Harley Bassman: Inflation, Bond Yields, VIX vs. MOVE, Demographics & More
Macro Voices
The Expiring Contract on Its Last Trade Day at Noon
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It's extremely unusual for one of these contracts to reach expiration, in other words, to get to its last trade date. I don't think we have ever in the history of the oil market seen this happen. The real number it was trading at is in a couple hours before the close, when there's still efficient price discovery in the market. It did collapse to two dollars and 66 cents of back gradation,. That's still massive back gradation as of the clothes, and that's due to market manipulation by the insiders.
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