Newly released content from LOM.com including research, company news and corporate updates. http://www.lom.com/ http://blogs.law.harvard.edu/tech/rss en-gb Mon, 30 Jan 2012 09:27:27 -0400 Mon, 30 Jan 2012 09:26:59 -0400 webadmin@lom.com FeedForAll v2.0 (2.0.2.9) http://www.feedforall.com Unfortunately, things do not look a whole lot brighter for investors yearning for bigger bond coupons in today’s yield-starved world of fixed income investing. http://www.lom.com/publications/Weekly-Global-Market-Commentary_01_30_2012.pdf Weekly Global 1AB473DF-72FA-4730-A825-030812CDE166 Mon, 30 Jan 2012 09:26:59 -0400 Last week investors become more comfortable with Europe’s progress in tackling the ongoing debt crisis and U.S. economic data showed further signs of recovery which sent risk markets higher and longer-dated Treasuries lower. http://www.lom.com/publications/Weekly-Global-Market-Commentary_01_23_2012.pdf Weekly Global 97B1B3E0-E399-4816-B4B6-0DEFCB914165 Mon, 23 Jan 2012 11:51:14 -0400 Early last week stocks continued their fifth week of rallying off of the November 25, 2011 lows stoked by increasing optimism about the upcoming corporate earnings reporting season, hopes for a self-sustaining U.S. recovery and, most importantly a lack of negative news coming out of the euro zone for a few days. http://www.lom.com/publications/Weekly-Global-Market-Commentary_01_16_2012.pdf Weekly Global 4C00EBE4-9488-4B4B-A89E-ED78B1417FE3 Mon, 16 Jan 2012 10:28:18 -0400 A strong equity market rally welcomed in the New Year last Tuesday, the first trading day of 2012, as positive sentiment fueled by improving U.S. manufacturing data encouraged investors to buy riskier assets. http://www.lom.com/publications/Weekly-Global-Market-Commentary_01_9_2012.pdf Weekly Global A241596B-40CE-468C-8D10-75DFDDC95E3A Mon, 9 Jan 2012 10:17:44 -0400 Last week saw more of the same general trend of lackluster U.S. economic data and flagging confidence in the euro zone’s ability to resolve its core issues causing global equity and commodity markets to fall and Treasury bond prices to rise. Early in the week, the major credit rating agencies reduced their outlook for European debt and American retail sales disappointed. http://www.lom.com/publications/Weekly-Global-Market-Commentary_12_19_2011.pdf Weekly Global 15C299CC-40CE-45A6-9D7D-EAC1167A58A7 Mon, 19 Dec 2011 10:23:07 -0400 Last week markets were again driven by euro zone events including announcements from the much anticipated European Summit meeting in Brussels and the regular European Central Bank (ECB) policy meeting in Frankfurt. Last Thursday, ECB policy makers relieved risk markets by cutting interest rates for a second straight month and indicated that they may use other monetary policy tools to stimulate bank lending in an effort to fight off a recession in the troubled region. http://www.lom.com/publications/Weekly-Global-Market-Commentary_12_12_2011.pdf Weekly Global 5FAA1135-7961-4A6E-8E4A-6EB63305271B Mon, 12 Dec 2011 12:13:20 -0400 The S&P had the worst thanksgiving week since 1932, due to the euro crisis coupled with the failure of American policy makers to reach an agreement for reducing the federal budget, with energy stocks taking the brunt of the loss. US treasuries fell below 2% for the first time in 8 weeks, as the euro area uncertainty fueled the demand for safe haven investments. http://www.lom.com/publications/Weekly-Global-Market-Commentary_11_28_2011.pdf Weekly Global 2ABB2A6E-703C-4C46-BEE6-338CC680142E Mon, 28 Nov 2011 12:01:01 -0400 Concerns over further political and macroeconomic deterioration in Europe combined with congressional gridlock inside America’s new budgeting supercommittee trumped all else last week as risk markets plunged, ignoring a continuation of positively trending U.S. economic data points. http://www.lom.com/publications/Weekly-Global-Market-Commentary_11_21_2011.pdf Weekly Global DBBC3230-19D2-4537-8DA7-499B1781FD92 Tue, 22 Nov 2011 11:44:52 -0400 Volatility remained heightened last week as risk markets vacillated between disruptive euro area political events offset by a raft of relatively strong S&P 500 earnings reports. In Europe, Italy took center stage with stock markets tumbling over three percent on Wednesday in reaction to Italian president, Silvio Berlusconi, announcing his intention to resign. http://www.lom.com/publications/Weekly-Global-Market-Commentary_11_14_2011.pdf Weekly Global CBB423C0-B462-4045-9556-9BBB67A91F98 Mon, 14 Nov 2011 10:54:56 -0400 News from the embattled euro zone region drove risk markets lower last week as Greek and Italian officials postured in front the G-20 meeting in Cannes walking a fine line between appeasing the core European states, but still doing their best to assuage their increasingly unhappy constituents. http://www.lom.com/publications/Weekly-Global-Market-Commentary_11_7_2011.pdf Weekly Global B5AAAD95-3BC5-46A4-B121-CDBFB99577ED Mon, 7 Nov 2011 10:40:58 -0400 Investors sought the perceived safety of U.S. government bonds over the third quarter of 2011 as fears of a ‘double-dip’ recession and further turmoil in Europe drove Treasury bond prices higher with yields on most maturities falling to historic lows. Despite the downgrade of America’s debt by the S&P's credit rating agency, investors piled into Treasuries during the quarter bidding up prices along the curve. http://www.lom.com/publications/Weekly-Global-Market-Commentary_10_31_2011.pdf Weekly Global 4E75B3B9-1B94-4EFC-BE14-41089D9B0F57 Mon, 31 Oct 2011 10:30:48 -0300 The unfolding ‘euro-saga’ once again swayed markets in volatile trading sessions last week. This time the focus was on speculation over the outcome from the latest European Summit meeting which began in Geneva this weekend. Highlighting the importance of an orderly credit restructuring in Europe, markets plunged across the globe last Monday as hopes of a smooth debt resolution were dimmed by comments from Germany's finance chief, Wolfgang Schaeuble who stated that expectations were ‘too optimistic’. http://www.lom.com/publications/Weekly-Global-Market-Commentary_10_24_2011.pdf Weekly Global DEA827B7-33A1-478C-AC36-B7A52F870669 Mon, 24 Oct 2011 10:50:48 -0300 Stocks rebounded globally last week while U.S. Treasuries traded down on renewed optimism over a possible European debt crisis resolution and better U.S. retail sales. In the latest of a long slew of news bits from Europe, the Slovakian government last week finally conceded to approving an expansion of the European Financial Stability Facility (EFSF) to 440 billion euros after an initial dissenting vote. http://www.lom.com/publications/Weekly-Global-Market-Commentary_10_17_2011.pdf Weekly Global 504455FF-F8B6-44F9-96D2-D92A43DC55DD Mon, 17 Oct 2011 09:45:49 -0300 Stock markets rose while U.S. Treasury bonds nudged lower last week in anticipation of a modestly better U.S employment report concluding an eventful week in the capital markets. On Friday, it was announced that nonfarm payrolls increased by 103,000 in September and the unemployment rate held steady at 9.1% according to the U.S. Bureau of Labor Statistics (BLS). http://www.lom.com/publications/Weekly-Global-Market-Commentary_10_10_2011.pdf Weekly Global B6755F21-CB34-4F3F-8BEA-1FF34B69759F Mon, 10 Oct 2011 09:40:22 -0300 Despite a sloppy trading day on Friday, last week saw stock markets edge modestly higher on better-than-expected U.S. capital goods orders and an improved outlook for resolution of the euro zone crisis. On Thursday, German Chancellor Angela Merkel won a small victory by clinching support within her own party to pass a bill enlarging the euro zone bailout fund without having to rely on the opposition. http://www.lom.com/publications/Weekly-Global-Market-Commentary_10_03_2011.pdf Weekly Global C6710189-8A17-4599-80A2-66EE7BCA4B1E Mon, 3 Oct 2011 10:41:50 -0300 In Europe, Moody’s downgraded 8 Greek banks by 2 notches. Investors have been waiting anxiously to hear when Greece will be getting their next round of bailouts to avoid defaulting next month. In the event of a default, banks across Europe are slated to take a substantial hit which some economists believe could push the global economy into another recession. Angela Merkel was quoted on a Sunday talk show in Germany stating that “We are buying time for Greece and other countries, so that the euro remains stable.” http://www.lom.com/publications/Weekly-Global-Market-Commentary_9_26_2011.pdf Weekly Global A3647454-422E-4578-88EE-5B3CC7B4575F Mon, 26 Sep 2011 16:13:11 -0300 Last week global stock markets showed signs of stabilization and began to bounce towards the end of the week despite the ongoing turmoil in Europe and an anemic U.S. retail sales report announced on Wednesday. Capping one of the strongest short term rallies in recent years, U.S. Treasury bond prices began to soften on Thursday after the U.S. Consumer Price Index (CPI) gauge of inflation was reported higher-than-expected and investors started buying riskier assets again. http://www.lom.com/publications/Weekly-Global-Market-Commentary_9_19_2011.pdf Weekly Global 5E7F0955-AA50-4852-9FB1-7CACA4A1724B Mon, 19 Sep 2011 10:47:11 -0300 Last week global equity markets slid, U.S. Treasury bonds rallied and the greenback soared in response to heightened political and economic uncertainty, fears that the euro crisis may soon be coming to a head and an increased probability of a ‘double-dip’ recession. Over the week, U.S. Treasury bonds reached new highs across the curve as yields fell below the critical two percent level on the ten-year issue, closing the week at an all-time low of 1.89% on Friday. Falling yields mathematically cause bond prices to rise but not all bonds increased in value. http://www.lom.com/publications/Weekly-Global-Market-Commentary_9_12_2011.pdf Weekly Global 3BC436F0-5218-4A77-877E-2FA9286ABFB3 Mon, 12 Sep 2011 10:13:50 -0300 Friday’s U.S. unemployment report capped another volatile week in the markets as fears of further global economic stagnation trumped recent hopes that a rebound in the risk markets might be indicating a modestly better outlook. At the end of the week the U.S. Bureau of Labor Statistics (BLS) reported that payrolls were flat in August against the consensus estimate for a 68k increase. http://www.lom.com/publications/Weekly-Global-Market-Commentary_9_6_2011.pdf Weekly Global 63C1574C-9C5A-4311-B5F2-EBFD69E06D84 Tue, 6 Sep 2011 12:45:04 -0300 New Providence Island experienced storm damage and clean up continues. Most Banking institutions and businesses remain shut or have limited operations but should be functioning normally by Monday morning. http://www.lom.com/lom-bahamas-office-is-re-opened Press Releases and News 63CC6953-D489-49A4-A52C-C8500957F55E Fri, 26 Aug 2011 11:46:00 -0300 Over the past several weeks investors have had to fasten their seat belts as markets gyrated wildly back and forth responding to almost every economic news bit or comment from a government official. As of this writing, the summer’s downward spiral had been briefly punctuated by a few slivers of modestly better U.S. economic data last week together with supportive comments from U.S. Fed Chairman Ben Bernanke which added a modicum of price support amid the ongoing global economic struggles before markets tumbled back down again. http://www.lom.com/publications/Weekly-Global-Market-Commentary_8_22_2011.pdf Weekly Global E50DD7FD-9B81-441A-9212-0C513DAC6619 Mon, 22 Aug 2011 10:19:50 -0300 LOM releases Financial Statements and Letter to Shareholders. http://www.lom.com/financial-statements Press Releases and News 5CA3502C-CA46-4AA7-BA64-A5D9C33B8715 Wed, 17 Aug 2011 10:54:13 -0300 Lazy summer afternoons were anything but last week as Tuesday and Thursday saw explosive late-day stock market rallies following sharp sell offs in the prior sessions on Monday and Wednesday. While Tuesday’s market surge of 4.74% on the S&P 500 average can be credited to Fed Chairman Ben Bernanke’s relatively constructive comments after the regularly scheduled FOMC committee meeting, Thursday’s rise of 4.63% is less easily sourced. http://www.lom.com/publications/Weekly-Global-Market-Commentary_8_15_2011.pdf Weekly Global 21BD48B1-E610-4073-A28F-1DF69F6FF8C3 Mon, 15 Aug 2011 13:16:11 -0300 Stocks and commodities plunged last week in one of most severe sell offs since the beginning of the Great Recession. At the same time, U.S. Treasury bonds and high grade credits soared as interest rates fell across the curve bottoming at close to historically low levels on the fallout from the quirky U.S. budget debate, probability of a U.S. credit downgrade and fears of a "double-dip" recession. http://www.lom.com/publications/Weekly-Global-Market-Commentary_8_8_2011.pdf Weekly Global 952F7169-C8B0-4A67-A624-B2AFE57B42CD Mon, 8 Aug 2011 15:45:01 -0300 The good news is that over the weekend Washington finally managed to ‘herd cats’ into a rather complex yet seemingly digestible compromise that if approved would avert a potentially cataclysmic debt default. Brokered by President Obama, the deal includes a $2.1 trillion increase in the debt ceiling offset by approximately $1 trillion in deficit reduction through discretionary spending caps over a ten-year period. http://www.lom.com/publications/Weekly-Global-Market-Commentary_8_1_2011.pdf Weekly Global 76BCEC1F-8E1D-4A7D-A2B6-5BD9B937F6E3 Mon, 8 Aug 2011 16:43:16 -0300 Trader Dave Barker is asked his opinion on the current rise in the price of gold. http://www.lom.com/lom-in-the-news Press Releases and News 71F00B25-D878-4478-9E57-8813DC87E533 Thu, 4 Aug 2011 11:25:16 -0300 Political showdowns reached a head on both sides of the Atlantic last week as European government leaders came to terms with the inevitability of a Greek bond default while American politicians hotly debated how to balance the bloated budget, lift the debt ceiling and forge a reasonable comprise in front of the August 2nd deadline in order not to default on U.S. Treasury interest payments. http://www.lom.com/publications/Weekly-Global-Market-Commentary_07_25_2011.pdf Weekly Global E1A0C820-B9DA-4A2C-97C0-C3317A73ECA3 Mon, 25 Jul 2011 14:47:30 -0300 Stocks rose modestly last Friday, trimming the Standard & Poor's 500 Index's weekly drop, as Clorox Co. received a buyout offer from Carl Icahn and Citigroup Inc. exceeded profit estimates, which was followed by JP Morgan's strong second quarter earnings report the day before. The technology sector was also buoyed by Google Inc. stock surging 13 percent after reporting strong sales and showing some progress in expanding beyond search advertising. http://www.lom.com/publications/Weekly-Global-Market-Commentary_07_18_2011.pdf Weekly Global C292242F-5534-4562-A37A-771EEE80865D Mon, 18 Jul 2011 11:17:57 -0300 LOM Asset Management Limited today announced that it will be launching the LOM Stable Income Fund SP, which will pay a consistent monthly annualized dividend of 3.6% in 2011 on July 22. http://www.lom.com/publications/Stable_Income_Fund.pdf Press Releases and News CF7ADC40-E7C5-400C-A567-AAD53B743709 Mon, 18 Jul 2011 09:40:12 -0300 Economists were once again left scratching their heads after the European Central Bank (ECB) increased its benchmark rate by 25 basis points to 1.5 percent last Thursday, the second increase in three months. Rates hikes increase credit costs and tend to squash growth – an unusual policy for a troubled region teetering on the edge of massive sovereign credit defaults likely to ripple throughout the European financial system. http://www.lom.com/publications/Weekly-Global-Market-Commentary_07_08_2011.pdf Weekly Global 9D2BC65F-4E4D-4BEB-84F8-434827D83DBB Mon, 11 Jul 2011 15:13:14 -0300 Greeks took to the streets again during a two-day worker’s strike setting the stage for last week’s volatile trading sessions which closed out the end of the second quarter. But Greeks bearing gripes were not enough to prevent Prime Minister Papandreou from securing enough votes to pass an austerity plan needed to meet the European Union aid requirements and avoid a hazardous bond default. http://www.lom.com/publications/Weekly-Global-Market-Commentary_07_04_2011.pdf Weekly Global AA07FF49-8364-4A6E-82D0-2ACCD6EB12D2 Mon, 4 Jul 2011 11:03:43 -0300 The LOM Group (LOM) today announced the opening of the LOM Executive Jet Facility at L.F. Wade Bermuda International Airport. The management of LOM, the Bermuda Aviation Services Limited (BAS), its subsidiary Aircraft Services Bermuda Limited (ASB), the Department of Airport Operations and Minister of Tourism and Business Development Patrice Minors JP, MP were in attendance for the opening of the newly refurbished private jet facility. http://www.lom.com/publications/LOM-PR-LOM_Launches_Private_Jet_Facility.pdf Press Releases and News 085BFFEB-83C9-472E-BEF6-18AE02E33AD4 Thu, 30 Jun 2011 13:20:55 -0300 "Buy the rumor, sell the news" proved to be the right strategy last week as global stock markets and other so-called risky assets rallied in front of last Tuesday's Greek "no confidence vote" only to fall back shortly afterwards. Early in the week, Greek Prime Minister Papandreou's government resembled a cat with extra lives as it managed to survive the crucial confidence motion by a narrow 155-145 vote. http://www.lom.com/publications/Weekly-Global-Market-Commentary_06_27_2011.pdf Weekly Global DF9DDC14-64D5-4A7C-A2BD-41F872E2499C Mon, 27 Jun 2011 11:16:43 -0300 Markets remained choppy last week as an early-week stock market rally faltered on renewed euro zone troubles. By mid-week modestly improved U.S. housing and employment numbers were overshadowed by rumors of an impending Greek bond default as mobs took to the streets protesting the latest round of proposed austerity measures setting the stage for yet another euro zone showdown. http://www.lom.com/publications/Weekly-Global-Market-Commentary_06_21_2011.pdf Weekly Global 8DCB5812-F3F6-4A0B-A468-6FB0F713C870 Tue, 21 Jun 2011 14:08:06 -0300 LOM Capital Limited is pleased to announce a successful listing of Montpelier Re Holdings Ltd. 8.875% Non-Cumulative Perpetual, Series A Preferred Shares on the Bermuda Stock Exchange (BSX). http://www.lom.com/publications/LOM_PR_Sponsorship_MontpelierRe_Preferred_Shares.pdf Press Releases and News 664D97C3-D09E-44F7-98EF-16D235DDD826 Thu, 16 Jun 2011 16:46:13 -0300 The last few weeks' stock market correction has been in reaction to a barrage of gloomy economic reports with most risk markets trending down on the bad news trifecta of stubbornly high unemployment, weaker manufacturing and falling home prices with little hope in sight. Responding to the latest data, Fed Chairman Ben Bernanke delivered a speech in Atlanta last Tuesday declaring "Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established." http://www.lom.com/publications/Weekly-Global-Market-Commentary_06_13_2011.pdf Weekly Global 98A5A1CA-9321-495C-8D65-EACC0FD4D8C2 Tue, 14 Jun 2011 10:24:28 -0300 April showers - and spring natural disasters - brought May flowers with some dandelions. And so lamented Sharon Lee Stark, Fixed Income Strategist and Managing Director of Sterne Agee, in a recent weekly piece: "A spring chockfull of natural disasters both here and abroad that disrupted supply chains and tested the mettle of our resolve. What are we left with? Green shoots that blossomed into dandelions, or little patches of flowers amidst a field of crab grass and scrub." http://www.lom.com/publications/Weekly-Global-Market-Commentary_06_06_2011.pdf Weekly Global 19B03842-9D1F-45E1-9722-5C2D0B859C14 Mon, 6 Jun 2011 10:20:43 -0300 Stocks and commodities rose on news from the G8 Meeting that the global economy is strengthening. Long Canadian bonds rallied to the most in 9 months on Friday upon news that global growth is slowing. Greece was further hit by problems as their opposition parties failed to come to an agreement on austerity plans. http://www.lom.com/publications/Weekly-Global-Market-Commentary_05_27_2011.pdf Weekly Global AA24EF1E-2755-4B22-9078-B6613532C45A Mon, 30 May 2011 13:04:39 -0300 Italy and Greece both were hit with a ratings down-grade amid fears of default. LinkedIn launched its IPO Thursday doubling share value in the debut. Spanish Prime Minister is defeated in local elections due to backlash of austerity measures. The Canadian dollar dropped its most in almost 6 month due to stalling oil prices which accounts for half of Canada’s export revenue. http://www.lom.com/publications/Weekly-Global-Market-Commentary_05_23_2011.pdf Weekly Global BE399AC7-768B-4923-B2E0-3C57AF4D9554 Mon, 23 May 2011 11:46:30 -0300 Markets staggered towards the end of the week with a pullback midweek reversing the early week rally. In the US, Employment claims fell less than expected and retail sales rose for a 10th month in April. US Treasuries rallied to their highest point this year amidst EU debt fears. Asset-back securities saw stronger bids due to investors seeking protection against rising interest rates in Europe led by Santander and Volkswagen. http://www.lom.com/publications/Weekly-Global-Market-Commentary_05_16_2011.pdf Weekly Global 5425DBAA-30D7-43F8-B1CD-C8CA367ED693 Mon, 16 May 2011 14:58:22 -0300 Last week commodities sold off, the US dollar touched a two-and-a-half year low and Friday’s monthly unemployment report showed surprising strength. Early in the week commodities tumbled across the board on concerns over slowing growth around the globe. The sell off was led by a 25 percent drop in silver prices and a 15 percent drop in oil. http://www.lom.com/publications/Weekly-Global-Market-Commentary_05_9_2011.pdf Weekly Global 89A44979-CD9E-4421-8AEE-0282412841FF Mon, 9 May 2011 14:20:50 -0300 LOM Releases Research Report on NTB http://www.lom.com/publications/NTB_Research_Update_May_4_2011.pdf Press Releases and News 9EF4085F-5AE9-45A7-AB2F-5D20FC9B4E9D Fri, 6 May 2011 11:32:09 -0300 LOM Securities (Bermuda) Limited today announced the expansion of their precious metal product offerings. http://www.lom.com/lom-expands-gold-bullion-line Press Releases and News 2767345C-65E8-4F04-B828-5596BA4E4713 Thu, 5 May 2011 09:34:00 -0300 LOM (Holdings) Limited today released its audited results for 2010. http://www.lom.com/lom-releases-2010-audited-financials Press Releases and News D3AECA79-428E-47DE-968C-8A28EDFF1EB1 Fri, 29 Apr 2011 14:25:25 -0300 Obama will examine traders and speculators in oil markets in order to "root out any cases of fraud or manipulation". Treasuries rallied amidst speculation that the federal budget deficit may hamper growth. 10yr note yields fell to their lowest level in over a month even after the U.S. Government lost its stable AAA credit rating outlook. http://www.lom.com/publications/Weekly-Global-Market-Commentary_04_25_2011.pdf Weekly Global 972A3D6E-E2CE-4C96-A702-E95EF1301ED9 Mon, 25 Apr 2011 15:43:56 -0300 Markets were neutral on Friday, after the core inflation report barely budged 0.1% causing 2 year Treasury notes to fall to 0.71% from a recent peak of 0.83% and further reinforcing the belief that U.S. interest rates should be left unchanged. http://www.lom.com/publications/Weekly-Global-Market-Commentary_04_15_2011.pdf Weekly Global 01E52DC5-6384-48F8-A1EE-EFE9E6D893EB Tue, 19 Apr 2011 13:39:33 -0300 The past five days remained flat as stocks struggled to gain momentum due to a midweek sell off. Most, however, held their 10-day moving averages. Japanese economic fall out continues, as Toyota plants have been shut down forcing American plants to follow suit. The US Federal Government narrowly avoided a shut down on Friday as congress reached an impasse on whether or not to increase the federal deficit. The US Labor Department reported that over 300 metro areas had a decrease in unemployment showing that the increase in jobs is not isolated to only one region. Silver continued to out-perform gold, reaching new highs on Monday. Oil continued its drive north of $110 due to unrest in the Middle East as protests continue to intensify in Syria and Yemen . http://www.lom.com/publications/Weekly-Global-Market-Commentary_04_08_2011.pdf Weekly Global A2C5BE47-463B-4E55-A2C4-5B42D0B50425 Wed, 13 Apr 2011 11:39:33 -0300 Equities continued their rally for the second week on Friday with the S&P recording its best two week period since December as the market remains bullish amid a spate of global take over deals totaling $12 billion. http://www.lom.com/publications/Weekly-Global-Market-Commentary_04_04_2011.pdf Weekly Global BAC65C89-7BA8-4841-AD24-B627D1C4C65B Tue, 5 Apr 2011 13:28:59 -0300 Stocks managed to advance last week, as investors turned their attention to strong corporate earnings and shrugged off geopolitical concerns. The German DAX, French CAC, and Japanese Nikkei were especially strong, after having sold off during the previous two weeks. http://www.lom.com/publications/Weekly-Global-Market-Commentary_03_28_2011.pdf Weekly Global D96D0855-5654-4F8E-A777-A965BBF70A65 Mon, 28 Mar 2011 14:41:51 -0300 Worldwide equity markets sold off heavily following the devastating earthquake and tsunami that struck Japan on March 11th. The Nikkei and German DAX were particularly hard-hit, but recovered somewhat later in the week. http://www.lom.com/publications/Weekly-Global-Market-Commentary_03_21_2011.pdf Weekly Global 1DDC3AFB-B517-4E43-A9D3-706BF60A168E Wed, 23 Mar 2011 11:37:00 -0300 Worldwide equity markets traded down sharply last week, punctuated by Friday’s devastating earthquake in Japan, which led to further stock selling. http://www.lom.com/publications/Weekly-Global-Market-Commentary_03_14_2011.pdf Weekly Global A95375D9-5AB1-49B3-888C-9C0E4AAE9C6D Mon, 14 Mar 2011 17:27:33 -0300 The Dow, S&P, and NASDAQ were more-or-less flat for the week, despite more bloodshed in Libya and surging oil prices. The U.S. released a strong jobs report on Friday; unemployment fell to a 2 1/2 year low of 8.9%. In Toronto, stocks rallied on higher commodity prices and strong bank earnings. Foreign equity markets were predominantly higher. http://www.lom.com/publications/Weekly-Global-Market-Commentary_03_04_2011.pdf Weekly Global B46F3454-8D48-455E-B14B-316A6E5099BC Mon, 7 Mar 2011 13:09:11 -0400 Worldwide equity markets retreated last week following violent outbreaks in several oil producing countries, notably Libya. http://www.lom.com/publications/Weekly-Global-Market-Commentary_02_28_2011.pdf Weekly Global 69DBB642-B2E2-4313-A799-900969781446 Mon, 28 Feb 2011 15:50:45 -0400 Stocks moved higher for the third straight week, with the S&P 500 index now having officially doubled from its lows of March 2009. http://www.lom.com/publications/Weekly-Global-Market-Commentary_02_21_2011.pdf Weekly Global 15E92F89-C426-44DC-99E0-A8AF2802C749 Tue, 22 Feb 2011 14:43:11 -0400 U.S. and European equity markets continued their prolonged upward movements last week. Canadian markets were relatively unchanged, while Hong Kong saw a significant sell-off, prompted by an outflow of funds from Greater China markets. http://www.lom.com/publications/Weekly-Global-Market-Commentary_02_14_2011.pdf Weekly Global A12D2A25-E005-452D-ACF7-05E88601FE55 Tue, 15 Feb 2011 10:21:23 -0400 Equity markets continued to rally last week following impressive corporate earnings and positive economic data, including a strong ISM manufacturing report on Tuesday. Further, a better-than-expected non-farm payroll figure on Thursday indicated that the U.S. job market may finally be rebounding. http://www.lom.com/publications/Weekly-Global-Market-Commentary_02_07_2011.pdf Weekly Global 4587AA72-DE36-47D2-B431-234CD688D684 Wed, 9 Feb 2011 11:58:42 -0400 After climbing higher since early December, equity markets hit some resistance last week, with all but the DJIA and CAC40 indices suffering declines. http://www.lom.com/publications/Weekly-Global-Market-Commentary_01_24_2011.pdf Weekly Global 470EA8B9-383D-43D4-8CB0-A05050A595F0 Mon, 24 Jan 2011 14:12:06 -0400 LOM appoints two new staff. http://www.lom.com/lom-appoints-two-new-staff Press Releases and News 075319DB-8E39-4412-AD42-DCF29C6EF5EB Thu, 5 May 2011 10:57:22 -0300 LOM appoints two new managers. http://www.lom.com/press-release---november-22-2010 Press Releases and News 5555D36B-DA37-4B40-9D4B-BBA6EF18033A Thu, 5 May 2011 10:49:45 -0300 LOM (HOLDINGS) LIMITED ANNOUNCES COURT APPROVAL OF SETTLEMENT WITH SEC http://www.lom.com/publications/LOM_SEC_Announcement.pdf Press Releases and News E1AA7484-65E5-4D37-B705-89C021076590 Fri, 15 Oct 2010 11:34:27 -0300 LOM appoints two young Bermudians. http://www.lom.com/lom-appoints-two-young-bermudians Press Releases and News B4D52A78-ED93-4F62-8E00-AF964C44AFB6 Thu, 5 May 2011 10:59:10 -0300 LOM Releases Research Report on NTB http://www.lom.com/butterfield-bank-group Press Releases and News 836F65DB-92BA-4AB7-9678-A0B22AFAFCE5 Mon, 3 May 2010 14:04:57 -0300 The Listing Committee of the Bermuda Stock Exchange (BSX) announces the approval of the listing of the Ordinary Shares of Shore Capital Group Limited, (SGR BH) (the "Company"). The listing on the BSX is a secondary listing and is effective from 30 April 2010. http://www.lom.com/news-release-apr302010 Press Releases and News 58BC5C67-94D3-4DEB-9566-9656DA56E60B Fri, 30 Apr 2010 13:50:58 -0300 Letter to Shareholders. http://www.lom.com/publications/3699_001.pdf Press Releases and News 558B314B-4873-448A-85D6-32E8256C2FE1 Fri, 30 Apr 2010 08:55:12 -0300 The Bermuda Monetary Authority reports that there are 46 licensed investment groups in Bermuda offering a diverse range of investment management services. These licensed providers of investment services vary from small two- or three-man shops, offering a very limited bespoke service; to subsidiaries of global groups that fulfil the function of a cog in a giant investment services wheel; to larger organisations that offer a wide range of products and services; and to firms of the size you would find in any of the world’s financial capitals. http://www.lom.com/publications/BDA_Biz_Review_2010.pdf Press Releases and News 7740B9C5-6479-4B03-A15C-EE3CDC0FD8D4 Mon, 26 Apr 2010 09:29:00 -0300 LOM Fixed Income Fund has been awarded three five-star ratings from Morningstar Inc. - the highest rating a fund can receive from the independent mutual fund analysis and ratings company - putting it in the top 10 percent of rated funds. http://www.royalgazette.com/rg/Article/article.jsp?articleId=7da34af30030034&sectionId=65 Press Releases and News 8594EE6B-254D-4EEF-99FC-BC7785A574F6 Fri, 12 Mar 2010 16:25:02 -0400 http://www.lom.com/bermuda-commercial-bank-limited Press Releases and News C96424E7-481B-4794-B631-4B7EEC5319F9 Thu, 25 Feb 2010 16:21:18 -0400 http://www.lom.com/butterfield-bank-group Press Releases and News D0D65A4A-6EE6-423B-918E-01D3119638AF Thu, 25 Feb 2010 16:19:37 -0400 As part of a reorganization of its Caribbean operations, the LOM Group announced that it will be closing its Cayman office as of March 31, 2010 http://www.lom.com/january-29-2010 Press Releases and News D7BA8415-8B54-44D7-9915-509B400F5148 Fri, 29 Jan 2010 14:13:07 -0400 LOM launches Facebook page. http://www.lom.com/january-25-2010 Press Releases and News D5053FA7-A4FB-4D18-AC90-FD9B8F7FE323 Mon, 25 Jan 2010 14:37:24 -0400 Hamilton, Bermuda – 14 January 2010 – LOM (Holdings) Limited (Bermuda Stock Exchange: LOM.BH) announced that it will reorganize the group’s operations in the Caribbean. http://www.lom.com/press-release-january-15 Press Releases and News E17D48AF-49F5-4E5B-A384-89DC50D4EFAD Fri, 15 Jan 2010 11:11:14 -0400 T’is the season of giving, and nowhere is the tradition more sacrosanct than in the financial services sector. Some firms have done very well indeed in the rebound from the crisis and have earmarked considerable sums to compensate employees in the form of bonuses. http://www.lom.com/december-14-2009 Market Research C8DCE68E-56C5-49C7-864B-93FBFBCCFB1C Mon, 14 Dec 2009 12:06:02 -0400 The recent events in Dubai jolted financial markets across the world. There was a shudder of fright as risk aversion took hold and investors headed for safer ground. To some people it came as an exogenous shock, while others were not totally surprised but, nevertheless, preferred to reduce risk exposure until there was more clarity. http://www.lom.com/december-7-2009 Market Research C73F6B4B-B6CB-49F4-9F5E-35DA67787753 Mon, 7 Dec 2009 11:51:07 -0400 Last year’s holiday shopping season was a dismal one for the US retail sector. But the plunge in sales didn’t come as a total surprise to retailers because consumer spending had already started to collapse from mid-year. This year, there are hopes for a better outturn, as shoppers are showing greater willingness to venture into stores. http://www.lom.com/november-30-2009 Market Research BACDF341-51E9-4B82-8069-597F8A867842 Mon, 30 Nov 2009 10:26:52 -0400 Equities in emerging markets were badly mauled when stocks tanked last year. Investors were dumping riskier assets, raising cash and heading for safety. The reason for selling off this previously-prized asset category was less to do with a sound assessment of their actual prospects than the need by hedge-fund managers for liquidity to meet urgent demands. And when the selling got going, others jumped on the bandwagon. http://www.lom.com/november-23-2009-2 Market Research 2EF1DC86-D401-49C2-8B4E-92E4CA0B63BC Mon, 23 Nov 2009 11:03:16 -0400 Barack Obama visited Japan, last week, on the first leg of his Asian tour. The reason for selecting Japan, as the first stop, was more to do with courtesy than its centrality in US strategic plans. China is, of course, the primary focus of American attention. http://www.lom.com/november-16-2009 Market Research E2362F56-6940-4EC9-9EDC-0DDA73945C61 Mon, 16 Nov 2009 10:46:16 -0400 The global economy is in recovery mode, but there are concerns about the extent to which global imbalances may compromise future prospects. We entered the recession, last year, with significant economic imbalances that had grown as a result of excessive, market-distorting, policy measures in a number of countries during the previous boom period. http://www.lom.com/november-9-2009 Market Research C9B13376-8CF7-4179-AFAC-A07FDA34EDC5 Mon, 9 Nov 2009 12:00:27 -0400 For those who doubted the power of a flood of liquidity - - provided by the world’s central banks - - to turn around depressed asset markets, the evidence is now plain for all to see. Over the past six months there has been a tremendous surge in many asset prices. http://www.lom.com/october-26-2009 Market Research 1F349C25-3D81-43EF-8106-7D526FD8E1E6 Mon, 26 Oct 2009 10:15:22 -0300 As we mentioned in the previous article, policymakers in many countries are still dedicated to continuing the stimulative policies that have lifted their economies out of a nasty recession. They are likely to maintain these programmes until there are greater assurances that autonomous private-sector demand can underpin sustainable growth. http://www.lom.com/october-19-2009 Market Research 54CABFBE-6955-4FB5-A86B-BF2B1ADD9574 Mon, 19 Oct 2009 11:25:54 -0300 Last week, China marked the sixtieth anniversary of the founding of the People’s Republic, which was an important historical event by any reckoning. It is curious to note that while in most of the world, communist parties have been pushed into fringe status; in China one-party rule is still supreme. http://www.lom.com/october-5-2009 Market Research 12CC76C7-A7A8-41C5-800B-779F6BB5C704 Mon, 5 Oct 2009 09:37:23 -0300 The previous G20 meeting, in April, focussed on crisis management, aimed at preventing the world economy from sliding into a deeper recession. Now that the worst of the downturn is over, attention has shifted to ensuring a sustained recovery and addressing reforms in the financial system. As always, diplomatic language was used to cover up differences among the principal participants at the Pittsburgh summit, which has just ended. http://www.lom.com/september-28-2009 Market Research 56625F4B-7A03-471F-99AC-582AA9C578DA Mon, 28 Sep 2009 09:32:26 -0300 The market system is imperfect and has well-known flaws, when viewed from a dispassionate analytical perspective. Unfortunately, for the past few decades the imperfections have been ignored as the fall of communism and the spread of globalisation have given credence to the accomplishments of competitive capitalism. http://www.lom.com/september-14-2009 Market Research 13BCCB00-5B23-401B-8D19-365DFD2225DB Mon, 14 Sep 2009 09:53:52 -0300 The deep global recession from which we are currently recovering came as a surprise to the majority of Wall Street analyst, as well as central bankers and academic economists. It is not too difficult to nail them to the wall, because their assertions have been widely recorded in print and the general media. http://www.lom.com/september-8-2009 Market Research CFB0F7BD-ED0E-4918-BB14-D68E2E3BDEDE Tue, 8 Sep 2009 09:40:30 -0300 It’s been a hard recession and although recovery is underway, the belt-tightening undertaken by firms has already hurt the household sector. In order to protect the bottom line, as much as possible, corporations have been shifting the cost of adjustment onto workers and consumers. http://www.lom.com/august-31-2009 Market Research 8D9A6930-3DA2-4EFB-B308-35C0486869F4 Mon, 31 Aug 2009 13:28:40 -0300 Globalisation has been one of the main features of global economic development for many years and has contributed substantially to rising income levels around the world. Of course, as some detractors have pointed out, the gains and losses haven’t been equally distributed. But that’s the manner in which a competitive system functions, and globalisation is the extension of market principles across all regions. http://www.lom.com/august-24-2009 Market Research C8D8B32E-F7BB-4C1F-A758-0111B90AF03E Mon, 24 Aug 2009 09:49:43 -0300 Last week, China marked the sixtieth anniversary of the founding of the People’s Republic, which was an important historical event by any reckoning. It is curious to note that while in most of the world, communist parties have been pushed into fringe status; in China one-party rule is still supreme. http://www.lom.com/august-17-2009 Market Research 56BF88E1-FA4F-4261-9A26-4AFC4054F44B Mon, 17 Aug 2009 10:16:36 -0300 A complex game of geopolitical strategy is being played out in Eurasia reminiscent of what historians call the Great Game between Britain and Russia in the nineteenth century. Of course, the more recent Cold-War period also provided opportunity for strategic jockeying. But neither of them compares with the scale and complexity of what is currently occurring. http://www.lom.com/august-10-2009 Market Research 23BAFA0B-0680-4317-A7F6-0BDF9E71B0BB Mon, 10 Aug 2009 08:50:20 -0300 The unemployment situation in the United States is quite dismal, and it is pretty awful just about everywhere else too. http://www.lom.com/july-27-2009 Market Research E6086AC1-F9F8-41E2-9F01-1ED01C75F745 Mon, 27 Jul 2009 10:40:17 -0300 Hedge funds, in general, had a very difficult time last year. http://www.lom.com/july-13-2009 Market Research 0BEC601F-9261-402E-A10E-68151EA16156 Mon, 13 Jul 2009 10:33:33 -0300 The sharp deceleration of the US economy in 2008, under the weight of a significant housing correction and a banking crisis opened up the possibility of a severe recession bordering on a depression. This prompted the authorities to resort to extreme policy measures aimed at preventing such an outcome. http://www.lom.com/july-6-2009 Market Research DE14E3D9-DB88-4981-9C4A-F99980592036 Mon, 6 Jul 2009 10:54:48 -0300 The outlook for the US economy is improving. An examination of the economic data reveals that green shoots outnumber yellow weeds - - but not by a huge margin. The shape of the recovery remains uncertain though it would be reasonable to exclude a traditional v-shaped rebound. http://www.lom.com/june-29-2009 Market Research 7A541C71-C5F1-47BA-870B-37362D74102F Mon, 29 Jun 2009 11:39:01 -0300 In his trip to China last week, Tim Geithner, the US Treasury secretary made some fairly unexceptional comments about the need for appropriate policies in both countries to address the issue of imbalances. He was careful not to say anything about currency manipulation, which would have upset his Chinese hosts inordinately. http://www.lom.com/june-8-2009 Market Research 4264DA59-1229-4FCD-A8E2-36C1F9E66295 Mon, 8 Jun 2009 10:47:49 -0300 The recession and the financial crisis have glaringly focused attention on the issue of the magnitude of compensation for higher ups, relative to average working people. This has occurred much to the chagrin of upper management who pay public relations firms handsomely to portray them in the most positive light possible. http://www.lom.com/june-1-2009 Market Research 72EFA95F-71F0-48E8-B76A-8A906C3C4980 Mon, 1 Jun 2009 11:53:37 -0300 It comes as no surprise that global economies and investments took their licks over the last year and a half. The MSCI World Index reached an all-time high on October 31, 2007 before falling a staggering 59% through March 9, 2009. The Dow Jones Industrial Average fell 54% from its peak on October 9, 2007 through the trough hit on March 9 of this year. Since that bottom, the MSCI World and Dow have gained 34% and 27%, respectively through May 22. That’s right – investors with perfect market timing could have gained 34% though a global stock index in a mere 11 weeks! Of course though, no one has perfect market timing. In fact, statistics proves that only the very lucky, and occasionally the truly gifted, have beaten the market in the long-term by market timing. http://www.lom.com/exchange-traded-funds-3 Market Research F01E130A-82A9-4700-9A16-FC6756EABA9C Tue, 26 May 2009 10:57:44 -0300 The US dollar enjoyed a period of revival during the worst of the global recession. As the fires of the financial crisis spread, credit was being extinguished even as more dollars were being printed, relieving the system of an excess supply. It also helped that the United States was considered to possess a safe-haven status. Now that the world economy has stabilised and is set for recovery, the greenback is facing renewed difficulties. http://www.lom.com/may-26-2009 Market Research 62279397-AAAD-4F95-89A8-FF56F26CD5C3 Tue, 26 May 2009 10:45:04 -0300 Ever since the financial crisis engulphed us, last year, there has been lots of discussion about the failure of free markets and the need for tighter regulation of the financial sector. It is evident from the printed word and the ongoing chatter that there are diverse views about the degree of efficiency of free markets and their potential for generating crises. In addition, there are powerful special-interest groups intent on protecting their turf, not speaking of those with a pro or anti-market ideological programme. http://www.lom.com/may-18-2009 Market Research E3EDE098-C0ED-4578-A796-51ACE8B721E6 Mon, 18 May 2009 08:45:24 -0300 Butterfield reported a net loss for 1Q09 of $20.8 million ($0.22 per fully diluted share), compared to a profit of $36.3 million ($0.38 per share) for the same period last year. The quarterly loss was the result of one-time losses of $40.9 million – of which $37.5 related to the write-down of a single CMO investment held in the Bank’s held-to-maturity portfolio. http://www.lom.com/butterfield-bank-group BSX Research 4A737D55-BA6F-478E-BF7D-2CF04D715419 Thu, 14 May 2009 14:59:40 -0300 Risk aversion is declining and investors are feeling more comfortable about the outlook. Of course, a depression-like outcome was always highly unlikely. But the uncertainty and associated fear factor was at such a high level that people were willing to believe in the possibility of awful scenarios. http://www.lom.com/may-11-2009 Market Research 3E3EF7D0-D76A-4A2D-938C-782D9E71158D Mon, 11 May 2009 09:47:37 -0300 There are further signs that the global economy is stabilising. The most recent set of data indicate that economic activity has stopped deteriorating at a rapid pace. This has given some encouragement to investors, who until recently were factoring in expectations of a severe recession that would just skirt becoming a depression. Now, they can interpret the evidence as pointing to merely a hard recession, with the likelihood of a rebound in sight. http://www.lom.com/may-4-2009 Market Research 32DC143A-90DA-4C33-A8A2-E2E40B9947E5 Mon, 4 May 2009 09:17:00 -0300 The Obama administration continues to muddle through, in its handling of extensive problems in the financial system - - despite the fact that the gravity of the situation calls for rapid and decisive action. It demonstrates the hollowness of the promise of change that the president made during the election campaign last year. http://www.lom.com/april-22-2009 Market Research 7C6041FF-8F52-40A0-B053-8676549F547E Wed, 22 Apr 2009 09:48:48 -0300 According to reports in the media, banks are set to pass the US government’s stress tests on how well they would fare if the recession deepens. Whether or not the story is the result of a deliberate leak, somehow we suspected all along that the examiners would come up with a positive tale to tell. In current circumstances, saying something different would have too many negative consequences. Managing expectations and boosting optimism is part of the government’s game plan. http://www.lom.com/april-20-2009 Market Research 81456D20-90D4-4EFB-9166-52434C9C4FDD Mon, 20 Apr 2009 12:56:33 -0300 The policy intentions pronounced at the recent G20 summit meeting went down well with the financial markets. It certainly stimulated an increase in risk appetite. The sherpas did a grand job working hard behind the scenes so that the summiteers could claim success - - and they did so effusively, for maximum effect. http://www.lom.com/april-6-2009 Market Research E6382989-353D-4DBD-B8E1-D1D5E57BF350 Mon, 6 Apr 2009 14:46:30 -0300 The global economy is still struggling, and will continue to do so in the first half of the year. But the newsflow is now somewhat less than unrelentingly bad. Generally, the data coming out of the US and China represent a few glimmers of light among the darkness, even as Europe and Japan have yet to show more promise. http://www.lom.com/march-30-2009 Market Research 367DDE0D-82F9-4C59-AD7A-FF4117C80140 Mon, 30 Mar 2009 14:46:30 -0300 G-20 finance ministers are trying to put together a coordinated plan to tackle the global economic crisis. Inevitably, there are differences among them. However, the problems they face are sufficiently severe to concentrate minds and prevent major squabbling. The distorting effects of current government policies will have to be faced in due course. But, for now, it is important to focus on reducing the severity of the recession. http://www.lom.com/march-16-2009 Market Research D825027E-6DD9-43B7-A04C-18F3513A318B Mon, 16 Mar 2009 10:46:30 -0300 People often take decisions that misestimate the actual risks involved. This is true in both boom and bust periods. Fear is currently the prevalent emotion in financial markets and is reflected in a flight to what are considered to be safe-haven assets. Under such conditions, certain asset classes can be significantly oversold or overbought. http://www.lom.com/march-9-2009 Market Research 00CD75AC-F184-4C91-987E-715797774E70 Mon, 9 Mar 2009 11:02:59 -0300 Butterfield reported 2008 net income of $4.8 million, or $0.05 per share, a year on year decline of 97%. Net income included a one time gain of $115.5 million relating to the Fulcrum (fund services) merger and $224.6 million in one time losses $158.2 million related to unrealized losses in the Bank’s investment portfolio, $50.2 million to credit agreements used to support the Butterfield Money Market Fund, and $5.2 million was due to goodwill impairment. http://www.lom.com/publications/NTB_Research%20Update_Mar_6_2009.pdf Market Research 4F31CD76-97D2-4652-8670-770682268655 Fri, 6 Mar 2009 17:32:25 -0400 The global economy is in the thick of a serious recession and the data print is quite negative. Inevitably, this increases the level of gloom among investors. At such times, pessimism is likely to lead to overshooting the mark regarding risk aversion. By midyear we should be seeing some signs of bottoming out in leading indicators, and by year end the global economy should be in a growth mode. http://www.lom.com/march-2-2009 Market Research D9010D83-428F-4AC2-9D33-E393CEB73D26 Mon, 2 Mar 2009 11:28:38 -0400 In light of the current economic turmoil and its impact on financial markets, many investors are turning to exchange-traded funds (ETFs) to capitalize on market or asset price swings. Exchange-traded funds are securities that offer proportional ownership of a portfolio of assets such as equity indices, commodities, bonds, or currencies. http://www.lom.com/publications/Exchange_Traded_Funds_Attractive_Investments_in_Today's_Markets.pdf Exchange Traded Funds F521D3B5-4634-4ABB-A7EE-9B2CB4104E53 Mon, 2 Mar 2009 10:35:33 -0400 Corporate earnings reports and economic data continue to be unrelentingly awful, just about anywhere in the world. But this is not unexpected, as we are currently experiencing the worst of the global recession. At the same time, faith in the ability of the authorities to turn things around is somewhat shaky. http://www.lom.com/february-23-2009 Market Research AE16D95B-1A5B-46F0-B666-AB03F62B18AF Mon, 23 Feb 2009 09:04:43 -0400 The Obama administration’s plans to stimulate the economy and stabilise the financial system have experienced a difficult passage through Congress. Despite criticism, the stimulus package will have a much-needed positive impact on economic activity. However, the plans for getting the financial system back to health are vague and indecisive, when conditions on the ground require bold and focused action. http://www.lom.com/february-16-2009 Market Research 8488554A-A446-48BC-ABBC-68183B80425D Mon, 16 Feb 2009 09:33:29 -0400 Global economic conditions have continued to deteriorate over the last month. Rising unemployment, record-low consumer confidence, and increased savings rates are adversely impacting consumption and industrial output across the world. http://www.lom.com/publications/Investment_Policy_Committee_Economic_Forecast_Feb-6-2009.pdf IPC Newsletter C13117A1-C47E-4B40-909B-56D44140504D Mon, 9 Feb 2009 10:30:53 -0400 Recessionary forces have taken hold in the global economy. Data releases from all regions of the world confirm the depth of the recession. However, massive stimulus packages have been introduced by governments, and this will have a positive impact. If protectionism is kept at bay, the outlook is not all doom and gloom. http://www.lom.com/february-2-2009 Market Research E0706C29-0EF6-4038-9285-BE6749CB5AC8 Mon, 2 Feb 2009 00:03:04 -0400 Increasingly, currency markets have to deal not just with the usual fundamentals but also with government policies and their potential impact. Of course, government talk and action have always been important factors that traders normally take into account. But in current circumstance, they loom even larger than before. http://www.lom.com/january-26-2009 Market Research 53CC091A-2213-46AB-8DF3-200D7038A9A8 Mon, 26 Jan 2009 09:54:17 -0400 Central banks are acting vigorously to restore the health of the financial system and to prevent the recession from deepening. There is plenty of pressure on them to be forceful. The planned exit strategy will be difficult to execute. Under current circumstances, there is a high likelihood of committing policy errors. http://www.lom.com/january-19-2009 Market Research D810A6D6-11A3-4176-A96F-C890BEA2761C Mon, 19 Jan 2009 09:12:34 -0400 Volatility remains relatively high on financial markets. Governments are involved in major policy actions with substantial impact, causing changing views among investors. Uncertainty about the outlook for the global economy means that expectations are not well anchored and will be revised frequently. Views about the future have important implications for asset allocation strategies. http://www.lom.com/january-12-2009 Market Research 0988C30E-C2C3-40A2-AC7F-253F11B8B6FD Mon, 12 Jan 2009 09:35:57 -0400 The market continues to be full of uncertainty rather than risk that can be priced. The uncertainty will remain present while the likelihood of future events are indefinite or incalculable. Risk will become quantifiable when future events occur with measurable probability. We believe this will happen in 2009. This has caused us to make the following strategic forecast: http://www.lom.com/investment-policy-committee IPC Newsletter F28CFFF3-3132-4479-973F-196713703DA9 Mon, 22 Dec 2008 12:17:09 -0400 Expectations of change are high as Obama prepares to take office. Needless to say, the challenges on the economic and foreign policy fronts are enormous. Indications are that Obama is a pragmatist and will be cautious in implementing new policies. Political considerations, inertia and constraints created by past policies will translate into a good deal of continuity. http://www.lom.com/january-5-2009 Market Research 90C047B9-DDE7-471C-B2F1-5B1DECA9F837 Mon, 5 Jan 2009 09:32:00 -0400 Earlier this month, there was a meeting in Beijing between officials of two of the world’s biggest economies. On one side of the table, heading the Chinese delegation, there was Wang Qishan, representing state capitalism. And on the other side, leading the US team, we had none other than Henry Paulson, representing crony capitalism. http://www.lom.com/december-15-2008 Market Research E7960C02-41B2-4B34-A3B0-27E846CDB26E Mon, 15 Dec 2008 09:14:09 -0400 LOM is pleased to announce the 3rd annual release of the Bermuda Stock Exchange Domestic Issuers “Blue Book”. The report contains informative details on all of Bermuda’s publicly-traded domestic companies, including financial results, earnings estimates, share price forecasts, and stock recommendations. http://www.lom.com/lom-launches-2008-blue-book-research-on-bsx-domestic-issuers BSX Research E88D50F9-5642-459F-AE97-EA0B7977FC3F Thu, 4 Dec 2008 09:27:41 -0400 Equity markets worldwide have seen huge declines in excess of 30% over the last year. We think a short-term rally may be in order and are therefore increasing our stock exposure by 3.0%. We are proceeding cautiously though and remaining nimble due to the extreme volatility seen in markets currently. http://www.lom.com/investment-policy-committee IPC Newsletter 0223E7E5-146A-4BC6-866E-DEF815D51432 Wed, 3 Dec 2008 09:45:10 -0400 The rapidity of the global slowdown, its coordinated nature, and the reduction in inflation pressure has surprised many people. Actually, it constitutes further evidence of the degree of integration and speed of response in the world economy. As Nassim Taleb has commented: “sales at Wal-Mart decline today and a factory in China closes tomorrow”. http://www.lom.com/december-1-2008 Market Research 6DDD7BA6-94E0-4D05-B6FA-931D7F64D932 Mon, 1 Dec 2008 09:46:01 -0400 The global economy has been decelerating sharply and, of course, the downswing is a synchronised one. There is gloom in every region and country, as news comes in of this or that economy slipping into an officially recognised recession. But, unofficially, ordinary people already knew how much it was hurting. http://www.lom.com/november-24-2008 Market Research 583980E5-E3D4-4713-9F4B-915A1D29F228 Mon, 24 Nov 2008 11:13:40 -0400 These are hard times in the hedge-fund world, as deleveraging takes its toll. Years of easy access to credit allowed many funds to boost performance by engaging in significant leveraging. In many cases risk management was inadequate, and the price of that oversight is now being paid. The industry faces downsizing, rationalisation and tighter regulation. http://www.lom.com/november-17-2008 Market Research 9DBACA64-F7AE-418E-BEDD-71A3AD561B18 Mon, 17 Nov 2008 09:37:55 -0400 Past government policy errors were the major contributors to current problems. Easy credit policies, combined with pro-cyclical fiscal policies and improper regulation of financial markets have distorted market signals. Unfortunately, current government actions are likely to cause further distortions and create instability in the future. http://www.lom.com/november-3-2008 Market Research B316A939-6FC7-46E7-8F45-E957ECFB7AB4 Mon, 3 Nov 2008 10:10:56 -0400 The process of deleveraging continues to deflate asset prices and to correct the imbalances built up during the years of easy credit and excessive risk-taking. It is erroneous to blame the market mechanism for the current crisis. Primary blame should be borne by policymakers who deliberately contributed to the growth in the imbalances and the enormous leveraging. http://www.lom.com/october-27-2008 Market Research E552FD73-99CB-4E0C-B033-4F9DF650B876 Mon, 27 Oct 2008 10:39:59 -0300 The LOM Investment Policy Committee has issued its economic forecast and recommended global allocations for the upcoming month. Please reference the attached PDF or visit http://www.lom.com/investment-policy-committee for the complete release. http://www.lom.com/investment-policy-committee IPC Newsletter C89E908F-9106-401A-A50D-91749692B143 Thu, 23 Oct 2008 10:26:42 -0300 A coordinated global slowdown is underway. There is a risk that China’s economy may underperform, relative to the authorities’ expectations, as domestic demand fails to compensate for slower exports. Heavy government intervention, across the world has achieved a modicum of stability in the financial system. http://www.lom.com/october-20-2008 Market Research 0274F719-5297-4D62-9723-8700B0A01E7F Mon, 20 Oct 2008 10:15:17 -0300 LOM Securities (Bermuda) Limited is pleased to announce that a new research report has been issued on Pure Nickel Inc. (TSX: NIC), a Canadian-based mineral exploration company that holds interests in a diverse collection of advanced nickel and PGE projects throughout Canada and Alaska. Since acquiring Xstrata’s Canadian nickel exploration portfolio in July, 2007, NIC has subsequently become one of the largest North American nickel exploration firms. http://www.lom.com/new-equity-research-on-pure-nickel-inc-nic Small Cap Research A976FB6F-54CE-4DE3-84C8-1EFE405B4D68 Wed, 8 Oct 2008 09:42:44 -0300 The global economy is experiencing a synchronised slowdown. Inflation pressures are abating and commodity prices are falling. The crisis in the financial system is spilling over into the real economy. Governments are intervening heavily to prevent contagion and systemic failure. http://www.lom.com/october-6-2008 Market Research FF94C710-902B-44E9-8AF9-B32B7F1272D7 Mon, 6 Oct 2008 14:10:56 -0300 The US government’s rescue plan for the financial system isn’t a final solution for the banks’ travails. Problems of capital adequacy and households with troubled mortgages loom large - - in a deteriorating economy. More banks will go bust and more government debt will be issued. Many hedge funds are feeling the pain. http://www.lom.com/september-29-2009 Market Research EB894D64-C1D9-4F1C-B0DB-ABE4EEEF87B5 Mon, 29 Sep 2008 10:55:23 -0300 Financial markets are experiencing tumultuous times. US authorities are intervening massively to prevent contagion. Their actions have exacerbated volatility. Details of their rescue plan are still being worked out. The short-term result of the turmoil will be even weaker economic growth. http://www.lom.com/september-22-2008 Market Research C63CF39D-29EC-4519-9FB5-8B168BF69F87 Mon, 22 Sep 2008 11:49:11 -0300 AIG hopes to be rescued by the government as its prospects deteriorate. Saving it also rescues the management from the consequences of their earlier actions. The US government appears to have recognised the problem of moral hazard in refusing to bail out Lehman. Remaining investment banks are in survival mode. http://www.lom.com/september-16-2008 Market Research 24DDEFB7-3927-4F51-9156-561022A67D1A Tue, 16 Sep 2008 16:42:21 -0300 LOM Securities (Bermuda) Limited is pleased to announce that a new research report has been issued on Niger Uranium Limited (AIM: URU), a uranium exploration and development company with assets in Niger, Namibia, and South America. We are initiating coverage on Niger Uranium with a Buy rating and a 34.41p target price. http://www.lom.com/initiating-coverage-on-niger-uranium-ltd-diversified-portfolio-of-exploration-assets Small Cap Research C0AF1718-4640-43A0-A63C-9E0E4A7ECD57 Fri, 12 Sep 2008 09:05:41 -0300 The US economy continues to show weakness. According to the government employment report released last week, non-farm payrolls fell again in August, for the eighth month in a row. And the unemployment rate climbed to a five-year high. Meanwhile, another bad sign is that job losses are fairly widespread among industries. http://www.lom.com/september-8-2008 Market Research 9893D3B4-DF5E-4C7F-ABF0-BE9FB659161E Mon, 8 Sep 2008 10:10:00 -0300 Central bankers face tough decisions in balancing the risks to growth and inflation, amid a great deal of uncertainty. Currently, the stance of monetary policy at the global level is to support growth rather than fight inflation. The latest GDP data revision gives a false impression of the strength of the US economy. http://www.lom.com/september-2-2008 Market Research D5608377-04CB-4710-AFAA-E66A94F18BE7 Tue, 2 Sep 2008 09:33:44 -0300 As market participants return from the traditional summer holidays, they do so to a volatile and confusing back drop. The events of the summer have proven to be significant both in their own right and in their effect on financial trading. Traditionally, desks during the summer months are manned by juniors as the dealers proper are on vacation. This gives rise to large swings in some markets as liquidity is an important factor. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=45&cntnt01returnid=209 BSX Research 9D6B5B73-CA31-417B-9B32-7B0CBC945DFC Tue, 2 Sep 2008 08:59:50 -0300 Economic slowdown is evident in major economies. However, inflation remains high. The Eurozone economy is stagnant but policymakers are constrained from reducing interest rates. Japan is weak and depends on slipping global growth. The UK economy is stumbling, while the US’s dependence on exports as a major driver increases its vulnerability. Only the Chinese economy is strong but prospects depend on the success of activist policies. http://www.lom.com/august-25-2008 Market Research BD5AD52A-D024-42C3-B8CF-997EE925804C Mon, 25 Aug 2008 09:52:40 -0300 LOM Securities (Bermuda) Limited is pleased to announce that a new research report has been issued. The report is part of a new initiative to expand the scope of our research coverage publication universe. Over the next year, we will be publishing research on nearly two dozen companies to benefit our clients. Much of the new research will be on junior mining or development stage companies. In the near future, this research will also be accessible in the Private Client Area. http://www.lom.com/initiating-coverage-on-route1-inc-innovative-secure-remote-access-provider-with-growth-potential Small Cap Research 4AFDD2E9-F836-4E14-8383-FDD4E0E126A7 Fri, 15 Aug 2008 10:31:37 -0300 Butterfield reported a net loss for 2Q08 of $16.5 million ($0.18 per fully diluted share), compared to a profit of $35.9 million ($0.38 per share) for the same period last year. The quarterly loss was the result of one-time operating losses of $50.7 million – $23 million in losses were due to the permanent impairment of a held-to-maturity investment, and $27.7 million in losses related to credit support agreements provided to Butterfield’s Money Market Fund. http://www.lom.com/butterfield-bank-group BSX Research 389AB287-38F3-40B2-A81D-D8E4BEA47D26 Wed, 13 Aug 2008 15:53:41 -0300 Commodity prices have continued to soften. In terms of sector rotation, it has been profitable to move out of energy and basic-materials and into consumer-discretionary and financials. Stock markets, such as Canada and Australia, that are commodity intensive, have been hit particularly hard. Emerging-market equities are also lagging, even as the US market's relative performance impresses. http://www.lom.com/august-2008 Market Research CFC39F19-99A6-44AF-85F4-3F96CB9330F5 Mon, 11 Aug 2008 15:21:24 -0300 Commodity and oil prices are softer, on prospects of weaker global growth. Policymakers in the US are busy trying to shore up the financial system. The cost of intervention is mounting. Chinese officials try to keep growth going via slower currency appreciation and less vigorous monetary tightening, even as inflation remains high. http://www.lom.com/august-4-2008 Market Research 7E22F81F-95C0-4734-B490-14D7F44F746A Mon, 4 Aug 2008 10:50:17 -0300 LOM Securities (Bermuda) Limited is pleased to announce a new initiative to expand the scope of our research coverage publication universe. Over the next year, we will be publishing research on nearly two dozen companies to benefit our clients. http://www.lom.com/initiating-coverage-on-duran-ventures-inc-with-a-buy-rating-and-1-50-target-price Small Cap Research A3F3194C-6120-424C-B3E1-1FB6C3F3CB29 Tue, 29 Jul 2008 08:30:00 -0300 Hamilton, Bermuda - As part of ongoing updates to the LOM Blue Book, LOM has released a new equity research report on BELCO Holdings Limited (BELCO). This report is published in HTML at http://www.lom.com/belco-holdings-limited and also in PDF form here - http://www.lom.com/publications/BELCO-Research-07-08.pdf. http://www.lom.com/new-research-report-on-belco-holdings-limited-belco-released BSX Research 521AB23B-3A85-45EF-9AD7-F23459B73455 Wed, 23 Jul 2008 08:28:03 -0300 Chairman Bernanke’s testimony before Congress yesterday gave little hope for an early resolution to market turmoil. In fact, Bernanke at least tacitly agreed with our headline from yesterday in his opening statements. To paraphrase the chairman admitted that risks to growth had grown substantially, whilst there is a simultaneous danger of intensified inflation. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=44&cntnt01returnid=209 Market Insights B9282D92-E923-482A-8A86-2CC9142DE94B Wed, 16 Jul 2008 11:18:02 -0300 Looking at the screens this morning and reading in reading the news wires, it is abundantly clear that markets are losing confidence in US officials ability to control the current financial crisis. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=43&cntnt01returnid=209 Market Insights 53CBB2C1-3E81-4843-AA0B-4FD7876935AA Tue, 15 Jul 2008 09:28:46 -0300 As we discussed on Friday, the US Treasury has come to the "rescue" of Fannie Mae and Freddie Mac! The package which is to be tabled before Congress during the coming week is significant, not only in its immediate demeanor but also in its longer term repercussions. A sketch of the bail out is characterized in brief by the following. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=42&cntnt01returnid=209 Market Insights F19ECFED-C3EE-41D9-97C1-EE1878B154DD Mon, 14 Jul 2008 09:33:12 -0300 The trouble surrounding the GSE’s (Government Sponsored Enterprises) in the form of Fannie May and Freddie Mac have hit the headlines in recent days and yesterday were the subject of official presentations before Congress. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=41&cntnt01returnid=209 Market Insights C927A24B-5F59-47DF-9ACA-4528E0912FAD Fri, 11 Jul 2008 09:21:44 -0300 With the summer doldrums well and truly upon us, the screens this morning are looking suspiciously like yesterday’s. What, even the events in the Middle East can’t seem to get things going in a meaningful way. The news overnight that Iran has test fired a medium range missile capable of reaching Israel should have done something to shake us out of current ranges. Alas, this was not the case. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=40&cntnt01returnid=209 Market Insights 74ED8F0E-8592-4C0E-A21C-A58C01082D4D Wed, 9 Jul 2008 09:10:56 -0300 With juniors manning the trading desks during the summer months as most “real” dealers are on vacation, it is unsurprising to see whippy volatile swings in all major markets. This has been exacerbated by the events of the last six months and continued confusing posturing by government officials. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=39&cntnt01returnid=209 Market Insights B68F1A9B-1C6A-4AD3-9F42-6627EB2B87BA Tue, 8 Jul 2008 09:22:15 -0300 Stagflation is causing concern among policymakers. Expectations of higher inflation are becoming more entrenched. Economic structures are indeed different from those that prevailed in the 1970’s. So it is hoped that the presence of stagflation will prove to be brief. But, globally, monetary policy continues to be easy and it does not appear that some central banks in Asia and the US take the inflation threat seriously enough. http://www.lom.com/july-2008 Market Research AC3C2ECE-6B43-43BD-A77D-76CEAA475E91 Mon, 7 Jul 2008 15:53:57 -0300 LOM Securities (Bermuda) Limited has released a new research report on Butterfield Bank Group - (NTB). This report contains updated financial figures, earnings projections, and analysis. http://www.lom.com/lom-has-published-updated-research-on-butterfield-bank-group---ntb BSX Research E8C571DA-3326-40F6-9DA0-3E23D8326F1A Tue, 1 Jul 2008 08:59:44 -0300 LOM Securities (Bermuda) Limited has released a new research report on Bermuda Commercial Bank (BCB). This report contains updated financial figures, earnings projections, and analysis of BCB’s 2007 Annual Report and first-half 2008 earnings releases, as well as insight into the Bank’s failed sale agreement and the ongoing negotiations. http://www.lom.com/new-research-report-on-bermuda-commercial-bank-bcb BSX Research 92E32DEC-4E5E-4D3F-8C00-A89FF8885327 Fri, 27 Jun 2008 15:00:18 -0300 Yesterday, in response to the Federal Reserve’s decision to nothing with rates, Wall Street tumbled by 360 points and the USD lost further ground against foreign currencies world wide. The reaction to an abominable posturing by policy setters was somewhat predictable. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=38&cntnt01returnid=209 Market Insights 5ABDE1CA-2DF0-411C-A556-C43B408FDB7A Fri, 27 Jun 2008 09:46:22 -0300 In our commentary yesterday we argued that the proper course of action by the Fed was to begin the rate rise scenario in the face of fairly substantial pricing pressures. We also stated that while this was the most prudent course, that it was unlikely that Bernanke and the FOMC would have the courage to do so. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=37&cntnt01returnid=209 Market Insights 9AEACA73-EC6B-41E4-B315-B88821A9919F Thu, 26 Jun 2008 09:25:07 -0300 When playing with ballistic missiles in thermo-nuclear war, First Strike Initiative refers to the ability of one side to make a pre-emptive launch against the enemy for reasons of self preservation. Today after a two day meeting the Fed will announce its decision on interest rates and hence it’s near term focus on the relative importance of growth versus inflation. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=36&cntnt01returnid=209 Market Insights 17EF6F88-BAF1-42F5-A9AF-5EDAE88A2A5F Wed, 25 Jun 2008 09:10:16 -0300 Saudi Arabia’s announcement that it will increase production by 200,000 BBL’s for July was met with skepticism by traders as investors viewed the communiqué as little more than lip service to the west. Focus immediately turned to the unstable situation in Nigeria where Shell had said it would suspend shipments due to unrest in that country. Crude rose by more than $1.50 per barrel before settling a bit lower. The Saudi’s continue to blame the recent surge in prices on 'speculation' while Westerners view the problem as a more fundamental supply issue. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=35&cntnt01returnid=209 Market Insights 6C9D6B36-ABE9-4E8D-9BB8-47328387684C Mon, 23 Jun 2008 09:16:33 -0300 Asian stocks were modestly higher overnight, save Australia which posted smart gains on mining issues. In Japan, the Nikkei was flat at 14,348, while Hong Kong tacked on 28 points. In Europe shares are showing robust gains with most continental indices up by 1% or more. The German ZEW survey, a measure of investor confidence, declined by more than expected to -52.4, the lowest level in some 15 years. This led market participants to question the notion of rate rises in Euro Zone and whether a series of tightenings can be sustained. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=34&cntnt01returnid=209 Market Insights F95C969E-7EAE-4C94-ADAE-B1C283B1F77D Wed, 18 Jun 2008 08:54:30 -0300 Asian stocks were mixed overnight with Japan posting its first gain in a week, while Hong Kong shares were lower on expectations that China will take further tightening measures to ward off price increases. The Nikkei advance almost 1.2% while Hong Kong gave up about 1/4 %. In Europe this morning, the bourses are showing marginal gains as markets await news from the US on inflation data due out later in the week. In the US, Wall Street remains at a critical juncture, trading near the bottom of recently established ranges. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=33&cntnt01returnid=209 Market Insights AE99F9D6-A2BF-4A84-B1DA-82559487393B Wed, 11 Jun 2008 09:46:06 -0300 Far Eastern share issues were mostly higher overnight as commodities companies advance on the back of higher crude oil prices. Both Japan and Australia were higher by more than 1% while in Hong Kong stocks tacked on 0.6%. In Europe, markets are fairly quiet as traders await this morning’s release of the US employment situation report at 08:30 EST. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=32&cntnt01returnid=209 Market Insights 1EA510B4-A945-4322-856A-21364693DFBF Fri, 6 Jun 2008 09:17:34 -0300 Asian stocks broke step with Wall Street last night to finish mostly higher in spite of the mark downs in New York. In Japan, the Nikkei 225 advanced by 1.6% led by automotive and electronic issues after regional automakers outsold US manufacturers for the first time. On the continent this morning quite a different picture is emerging with all major indices incurring steep loses. Concern is heightening that banks and financial firms may need to raise more capital to stave off the continuing credit turmoil. This would have the effect of diluting shares bases across the region. Similar worries in the US were precipitated by rumors the Lehman Brothers had been accessing the Fed Discount Window recently. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=31&cntnt01returnid=209 Market Insights 17606CDB-54B4-4123-8473-5E6CCA17D41E Wed, 4 Jun 2008 12:52:30 -0300 Asian share markets were mostly lower overnight snapping 4 days of gains as a re-emergence of credit concerns filtered into the financial and automotive sectors. The Nikkei 225 fell by 231 to 14,209 and Hong Kong’s Hang Seng gave up 1.8% to 24,376. Elsewhere Australia’s ASX 200 was lower by 88 on the back of a sharp sell off in Macquarie Group. In Europe today shares are mixed with no appreciable movement to speak of. Yesterday’s slide on Wall Street by more than 1% was attributed to the S+P downgrades of 3 major US investment houses, re-igniting the worries on credit issues. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=30&cntnt01returnid=209 Market Insights 01AB5534-BE58-4E28-86AE-960797D84423 Tue, 3 Jun 2008 09:14:49 -0300 Inflation is on the rise and expectations that it will move higher are also taking hold in a number of countries. Central banks are now operating in a very challenging environment; such that attempts to boost growth increase the probability of higher inflation. Investors are closely watching policymakers’ reaction to inflation risks. Shifting views on global growth and inflation will be reflected in volatility on financial markets. http://www.lom.com/june-2008 Market Research 9E50812A-8666-4AD9-BB10-6F53BFD99A2B Mon, 2 Jun 2008 10:31:25 -0300 Far Eastern stocks rose overnight as traders pursued the momentum established in the previous 3 sessions and took encouragement that the region may well be able to pass on pricing pressures to customers. In Japan, the Nikkei 225 rose by 0.7%, while in Hong Kong the market was up by 1.22% to 24,831. Europe paints a different picture this morning with the continental bourses off by between 1 and 1 ½ %. Credit concerns have re-emerged here today after Bradford and Bingley, the UK’s largest lender to landlords announced its plans to raise additional capital to protect against losses. US financial issues and Boeing are leading the US equity futures markets lower as we write. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=29&cntnt01returnid=209 Market Insights 42277508-FE47-4294-B013-83CF7C52E199 Mon, 2 Jun 2008 08:56:13 -0300 Asian stocks rose smartly overnight on optimism that sales in the region will withstand a global slow down. In Japan, the Nikkei rose 415 points or 3% and in Hong Kong, the Hang Seng put on just over ½ %. Shares “down under” were higher by 61 points. In Europe this morning the bourses are taking some encouragement that weaker economic data out of Germany and the UK could lead to sooner than expected rates cuts. Generally, the indices are ahead by about ¼ %. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=28&cntnt01returnid=209 Market Insights 77F60BF3-A80D-4CC8-8E32-5A0BB5C97C1C Thu, 29 May 2008 08:50:37 -0300 Asian stocks fell overnight ahead of the long holiday weekend in the US. The correction in oil prices yesterday from Wednesday’s records led traders to sell commodities issues in the Far East. Hong Kong and Australia were lower by better than 1% while Japan’s Nikkei average was essentially flat at 14,012. In Europe this morning shares are also lower with most of the continent losing ¾%. June Dow futures are pointing to an opening price of 12,550. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=27&cntnt01returnid=209 Market Insights AAD9535E-BDA6-4948-83E7-DBCD64B67A15 Fri, 23 May 2008 09:17:45 -0300 Asian stocks were mixed overnight with Japan recovering an early 1.1% slump on the back of record crude oil prices on the NYMEX. The Nikkei 225 finished up by .37% and Australia was flat. In Hong Kong shares were lower by 1.64%. Concern that the region will be held captive to much higher energy prices led traders to consolidate profits after the recent run up. In Europe this morning, the bourses are generally lower by between ½ and 1%. Yesterday’s continued liquidation on Wall Street seems to show little respite this morning with US Index futures up only marginally. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=26&cntnt01returnid=209 Market Insights A8B6AE32-CF76-428B-8D76-BEC1E69B5138 Thu, 22 May 2008 08:26:10 -0300 Far Eastern stocks were mixed overnight with Japan and Australia lower and Hong Kong and China showing gains. The Nikkei gave up 1.65% while down under the ASX 200 was off by 1.43% led by BHP. In Hong Kong, the Hang Seng posted a 1% gain and the Chinese index, the CSI 300, advanced by 2%. In Europe this morning shares are also mixed with continental issues showing modest losses while London’s FTSE is higher by 15 points. Wall Street futures are pointing to a continuation of yesterday’s sharp sell off in New York. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=25&cntnt01returnid=209 Market Insights 063701E2-5297-4638-BFF4-48E3EB8278AA Wed, 21 May 2008 09:05:51 -0300 Asian shares were lower across the board last night led by losses in Japan, Hong Kong, Australia and China. Most indices lost almost 1% while China gave back the most in 5 weeks or 5.2%. Credit Suisse’ downgrade of companies in the region was sited as reason for the sell off. In Europe this morning shares are also lower across the board after a measure of investor confidence in Germany failed to meet market expectations. The ZEW survey was expected to provide a reading of minus 37 and posted an actual headline of minus 41.4. US index futures are pointing to a lower open on Wall Street as well with June S+P lower by 6 ½. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=24&cntnt01returnid=209 Market Insights AD11337A-2B38-4F17-997D-A4EC13EF5EB5 Tue, 20 May 2008 09:30:15 -0300 Asian shares were higher overnight on rumors that China may be seeking a stake in BHP Ltd. In Japan the Nikkei 225 rose by 165 pints to 14,118.5 while Australia’s ASX 200 was ahead by better than 1%. In Europe this morning equity indices are also in positive territory on a belief that the worst of the credit crunch is over. Yesterday’s recovery on Wall Street from intra-day lows has US stock futures showing a continuation of gains. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=23&cntnt01returnid=209 Market Insights E617B42E-B685-4A8B-B681-8525C9964EA9 Wed, 14 May 2008 09:41:44 -0300 Asian stocks were higher again last night led by technology and auto companies on higher profit forecasts and speculation that the region may be able to withstand a global slowdown. The Nikkei 225 advanced by 210 points while Hong Kong was better by almost 500. In Europe, shares are mostly higher but by smaller margins after yesterdays comments by ECB officials on inflationary concerns. Dow futures are pointing to a higher opening in New York after some favorable US economic data. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=22&cntnt01returnid=209 Market Insights 9861B4D3-3ABB-4D99-951A-9B2C9D5FAE14 Tue, 13 May 2008 10:40:21 -0300 Asian stocks were mostly higher in the Far East overnight as traders heartened from positive earnings predictions. In Japan the Nikkei 225 advanced by 88 or 0.6%, while Hong Kong was closed. Australian issues were ahead by almost 1%. In China a release that inflation had quickened to 8.5% in April gave no surprises to the market and the CSI 300 put on 0.7%. In Europe this morning the bourses are higher by between ½ and ¾ % after an oil discovery in the North Sea and rising copper prices boosted profit expectations for commodities companies. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=21&cntnt01returnid=209 Market Insights D323A87E-E1FC-4384-B81A-C2E4D674561D Mon, 12 May 2008 09:39:16 -0300 Asian stocks fell the most in 3 weeks on lower profit forecasts from auto and tech companies. In Japan the Nikkei 225 snapped a 7 week winning streak to finish at 13,655, down 288 points. Losses in Hong Kong were similar with the Hang Seng off by 387. In Europe share indices are lower also after the world’s largest insurer AIG indicated a need to raise as much as $12.5 billion. US futures are pointing to a lower open on Wall Street with June S+P 500 lower by 7.5. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=20&cntnt01returnid=209 Market Insights 3B4EC40E-6C7A-4438-A93C-9B9F5DE4A569 Fri, 9 May 2008 09:49:15 -0300 Asian stocks were generally lower overnight as Japan returned from the holidays. Losses were led by financials and refiners as the surge in oil prices may indicate lower earning and a slowing global economy. In Hong Kong, the Hang Seng lost 2.5% to 25,610 while Australia was off by 0.6%. Japan was the lone gainer with the Nikkei tacking on 53. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=19&cntnt01returnid=209 Market Insights AAEE60A0-CB53-4488-9B22-75B615207991 Wed, 7 May 2008 09:08:01 -0300 The US economy continues to put in a feeble performance, with exports helping to prevent even greater weakness. China faces an inflation problem that the authorities are trying to address with measured policy steps. The Eurozone economy’s inflation challenge is less serious but it is keeping the ECB from reducing interest rates. Japanese domestic demand shows no signs of being able to drive the economy if global growth falters. http://www.lom.com/may-2008 Market Research 9D7089B2-07D2-4964-8E5F-9EB1BBD5BDB0 Tue, 6 May 2008 14:57:37 -0300 With Japan on still on holiday for Golden Week, Asian markets were again mixed in sluggish trade. In Europe, Activity is slowly picking up with the continent on holiday last week and London returning from a long weekend today. The bourses are broadly lower this morning with the average index off by between ½% and ¾%. US futures point to a lower opening for Wall Street, with nearby Dow contracts lower by 52. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=18&cntnt01returnid=209 Market Insights F8FBF26C-EE62-4515-8407-C7FADF6DC719 Tue, 6 May 2008 09:49:52 -0300 Asia put in a quiet and mixed session last evening with Japan, South Korea and Thailand all on holiday. In Australia, stocks added 0.5%, while Hong Kong shares were behind by 57points or ¼%. Europe is trading mostly lower this morning on the back of US shares trading on the continent after Microsoft announced plans have been scrapped in the purchase of Yahoo. In London the FTSE is closed for the annual spring bank holiday. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=17&cntnt01returnid=209 Market Insights 98EE3EC0-40AA-45B8-A368-BB4DEBB07F03 Tue, 6 May 2008 09:49:03 -0300 Video commentary and coverage of FOMC meeting rate cut of 0.25%. http://www.youtube.com/watch?v=udweuM7LsvU Market Insights F2A15AB9-73E0-4C76-9E32-E3B437B92ED0 Wed, 30 Apr 2008 11:21:02 -0300 In Asia last night share indices retreated mostly on technical considerations after BOJ lowered its growth forecast to 1.5% from 2.1%. Both Nikkei and Hang Seng fell by 0.6% led by financials while in Australia the ASX 200 gave back 0.17%. In Europe this morning most continental bourses are closed for the annual May Day holiday. The FTSE is ahead by a fraction. Yesterday’s action by the Federal Reserve to cut interest rates by 25BPs but not to clarify future direction left Wall Street in a quandary. Smart gains in New York recently left traders with little choice but to book profits and the Dow had given up all of its 160 point intraday rise by sessions end. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=16&cntnt01returnid=209 Market Insights 50F33F13-EC3B-4CBC-B2DC-081B6FCD3FFC Thu, 1 May 2008 08:52:38 -0300 Commodities producers such as BHP and Sumitomo led SE Asia equities lower overnight after decline in Gold and Copper yesterday. The Nikkei 225 dropped by 0.3% while the Hang Seng gave up 0.6%. In Australia, the ASX 200 was marginally lower by less than ¼%. In China stocks posted smart gains once again with the CSI 300 tacking on near 5% led by financials. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=15&cntnt01returnid=209 Market Insights D04F32A8-DE31-4CF1-B5BE-404D8FB383C0 Wed, 30 Apr 2008 09:24:55 -0300 Commentary from LOM Bermuda on US FOMC meeting, non-foreign payrolls, first quarter advanced GDP, inflation and bond markets. http://www.youtube.com/watch?v=btNBBlaxCtA Market Insights 76987F92-47FD-4014-89A0-51F96A4882B8 Tue, 29 Apr 2008 13:57:14 -0300 Asian stocks were mixed overnight with China and Hong Kong higher by about 1%, while Taiwan lost almost 3%. In Japan, the traders are on holiday for the annual Golden Week celebrations. Without the regions main driver, conditions were thin and choppy. In Europe stocks are mostly lower with Spain and Germany giving up 1.25% and 0,6%, respectively. The FTSE 100 is ahaead by a small margin. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=14&cntnt01returnid=209 Market Insights 0537C18C-73AF-447A-BEF8-C9735CC68493 Tue, 29 Apr 2008 09:14:06 -0300 In Asia last evening stocks advanced led by financial institutions with most major indices posting gains save China which dipped after the strong rally of last week. In Japan, the Nikkei 225 added 31 points while Hong Kong shares were higher by 150. The consumer inflation numbers out out Japan have led the market to reassess their dismal view of SE Asian stacks on a belief that pricing power may be returning to Japan after a decade of deflation. In Europe, indices are higher by between 0.5% and 1% and US futures are pointing to a positive open for Wall Street. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=13&cntnt01returnid=209 Market Insights 507AB10E-7414-4D50-BFA0-B47487E4B9E1 Mon, 28 Apr 2008 08:45:28 -0300 Asian market indices were higher over night led by electronics companies, car manufactures and airlines as markets took encouragement from yesterday’s rally on Wall Street. The Nikkei 225 added 322 or 2.4%, while China tacked on another 0.8% to yesterday’s heady performance. In Europe this morning, the bourses are all in positive territory by about 1%, while the OMX Stockholm 30 Index has put on 3%. US major index futures are pointing to a higher open in NY today. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=12&cntnt01returnid=209 Market Insights E97E647F-4932-4FC0-B28E-DCB7D628E083 Fri, 25 Apr 2008 08:27:29 -0300 Chinese stocks soared by over 9% last night, the biggest rally in over 6 years, after the government cut the taxes on equity trading in order to stem the recent slump that has erased $1.7 trillion dollars in market value. Elsewhere in Asia stocks were mostly lower as investors swapped recent gains into Shanghai. The MCI Asia Pacific Index was lower by 0.2%. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=11&cntnt01returnid=209 Market Insights 544164EB-E5A0-44AE-BB8A-37FA36BA4032 Thu, 24 Apr 2008 09:35:05 -0300 Asian stocks were higher overnight with Hong Kong and Australia both adding about 1.5%. In China the CSI 300 jumped by nearly 5% on bank earnings. Japanese stocks rose by ¼% as materials companies’ earnings suggest that the region may be able to withstand slower global growth. Asia is looking more and more attractive to investors on a belief that countries there will outperform the west in spite of "wet barrel" crude closing in on $120. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=10&cntnt01returnid=209 Market Insights AFC75B6D-0AF6-4AA6-BDF8-9440C44964C2 Wed, 23 Apr 2008 09:54:07 -0300 Asian stocks were mixed again overnight with a general bias toward the downside. The MSCI Asia Pacific Index fell by 0.7% as car companies in Japan gave up some of the gains enjoyed for the previous 7 sessions. Elsewhere in the region China added 0.9% to the CSI 300 while the Hang Seng put in a similar performance. The Nikkei 225 was lower by 1.10%. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=9&cntnt01returnid=209 DFC1AD31-D181-43BA-8D6F-F22EA37E8000 Tue, 22 Apr 2008 08:48:06 -0300 LOM's David Barker summarizes what's going on in markets around the world. http://www.youtube.com/watch?v=cInbihOqqkw Market Insights 431B4340-EDBB-4E59-803B-6221E696B731 Mon, 21 Apr 2008 09:23:29 -0300 Global equities are mixed this morning with Asian stocks higher and Europe mostly lower. The Nikkei 225 added 1.6% overnight led by car makers and machine manufacturers and Hong Kong put on 2.2%. In Australia, the ASX 200 surged by more than 3%. In continental Europe, stocks are lower by between 0.5% and 1% generally on the realization that ECB won’t be cutting interest rates in the region any time soon. In London, the FTSE 100 is holding onto meager gains after the BOE announced a 50 Billion pound swap facility to help banks tackle the credit situation. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=8&cntnt01returnid=209 Market Insights A52A35A7-116A-4A18-ADF8-F0910D8E475A Mon, 21 Apr 2008 09:14:44 -0300 Global equities are mixed this morning with Asian stocks mostly lower and Europe smartly higher. US futures are higher in early trading pointing to a positive opening for Wall Street. After the bell yesterday Google released earnings, beating street estimates by 32 cents. Traders took this as positive news that the "real" economy may be in better shape than the financial sector. Hong Kong was lower by a small margin while Australia lost 1.6% and the Nikkei added 78 points or 0.58%. On the continent, share indices are all higher by 1 and 2%. http://www.lom.com/index.php?mact=Blogs,cntnt01,showentry,0&cntnt01entryid=7&cntnt01returnid=209 Market Insights FC74DB6A-D8B5-4E41-A9AC-1933620C6F8C Fri, 18 Apr 2008 09:11:57 -0300