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Markets Are Discounting NY Terror Attempt: Strategist

Police are continuing their investigation of a botched car-bombing attempt in New York’s Times Square on Saturday. Was a terror premium already built in or are markets discounting the event? John Brady of MF Global shared his market insights.

“The markets are discounting what happened on Saturday,” Brady told CNBC.

“The timing of these events tends to be interesting," he seaid.

"This took place on Saturday night and authorities had time on Sunday to assess the damage and clearly communicate to the markets exactly what happened."

Thus, when the markets opened in Asian trading on Sunday afternoon, they were prepared and had as many clear facts as possible, he said.

In the meantime, Brady said the markets are looking ahead to the US employment report due this Friday.

  • Watch Brady's Previous Appearance on CNBC (Apr. 30, 2010)

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Disclosures:

No immediate information was available for Brady or his firm.

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