BERKELEY, Cali: U.S. central bankers not only regularly leak secret information about monetary policy, but the leaks are so predictably timed that a savvy investor without access to the leaked information could make money just by buying stocks in certain weeks.
That is the bottom line from new research by University of California Berkeley professor Annette Vissing-Jorgensen and colleagues, presented on Saturday at a conference attended by central bankers from around the world.
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