Wall Street Adjusts to the Trading New Normal

Wall Street Adjusts to the New Trading Normal - WSJ: "Transaction Volume in May Fell to Its Lowest Level Since Financial Crisis" -- ".... The slowdown in trading comes as investors see little reason to make big changes to their portfolios amid an expanding but unspectacular U.S. economy, lackluster first-quarter earnings reports, and above-average stock valuations as a share of projected company earnings. The decline comes despite six record closes last month on the S&P 500, extending a trading slowdown that started after the financial crisis. Daily average U.S. stock-trading volume last year was down 37% from the peak hit in 2009, Credit Suisse data show....At the Milwaukee stock-trading desk of investment bank Robert W. Baird & Co., Michael Antonelli uses the down time to send market-related tweets or works on posts for his firm's stock-market blog, Bull and Baird. A tweet from Tuesday: "Another completely dead day."...."The worst thing for a trading desk is for it to be slow," he said. "It's a tough job when it's slow because you start to overanalyze everything."..."

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