Press Release From Intrade: Re: Bush Convention Bounce & McGreevey Situation

Here is a link to a press release that Intrade put out today showing a real life example of how political futures markets react to events. When McGreevey announced that he was resigning, the Bush contract for New Jersey spiked about eight points. It went from ten to eighteen almost instantly. Also of note, traders are keeping their powder dry as to whether Bush will get a bounce out of his convention. We should know if he will by the third day or so of the convention.