Economics Blogs Lead Wall Street

The WSJ profiles economic blogs:

While many investors continue to take their cues from traditional outlets, the real news junkies—including those who aim to get a trading idea before they hear about it from their broker—have bookmarked the blogs, or Web logs. Even Wall Street itself is paying heed.

“It’s all about the ‘memes,’ ” says Stan Jonas, head of interest rate strategy at Fimat USA in New York, employing a word that describes ideas that spread quickly by word of mouth—or Web. “Those guys say it and about a week or two later, the guys on Wall Street pick it up.”