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 Thu, 23 May 2013 09:16:38 -0300 Thu, 23 May 2013 09:16:35 -0300 webadmin@lom.com FeedForAll v2.0 (2.0.3.1) http://www.feedforall.com Last week equity markets pushed through to new highs once again on better American economic data which included a surprisingly strong advance retail sales number reported for the month of April. http://www.lom.com/publications/Weekly-Global-Market-Commentary_05_20_2013.pdf Weekly Global ABCD7631-D538-4FA7-B072-2E55ED789E87 Mon, 20 May 2013 10:58:21 -0300 The old Wall Street axiom "sell in May and go away" has not been a good call this year.. at least so far. This month rather than correcting, risk markets extended their strong gains for the year with the S&P and Dow Jones Industrial Indices both breaking out again into new all-time highs. http://www.lom.com/publications/Weekly-Global-Market-Commentary_05_13_2013.pdf Weekly Global 5A7AA2E4-7E98-4ECE-9CA7-5E6648520AD8 Mon, 13 May 2013 10:38:13 -0300 Markets reversed an earlier slide last week, ultimately encouraged by better American employment reports and improved sentiment on European monetary policy. http://www.lom.com/publications/Weekly-Global-Market-Commentary_05_06_2013.pdf Weekly Global 954117C6-FCB8-49A9-9516-B8DE417764B4 Mon, 6 May 2013 11:02:51 -0300 The audited 2012 financials and letter to shareholders has been released this morning, May 3rd, 2013. http://www.lom.com/lom-2012-financial-results Press Releases and News 26F68301-1A6A-44F4-B238-AD543D09D900 Fri, 3 May 2013 10:23:20 -0300 After the financial debacle in Cyprus last month, some investors may be rethinking the idea of bank deposit safety. http://www.lom.com/publications/Weekly-Global-Market-Commentary_04_30_2013.pdf Weekly Global 79B097C7-B46E-4C27-905B-EAF98E8445AE Tue, 30 Apr 2013 10:47:58 -0300 After the financial debacle in Cyprus last month, some investors may be rethinking the idea of bank deposit safety. http://www.lom.com/bank-deposit-safety Press Releases and News 7A47E761-7198-44F6-997D-F89FB4AF45FB Fri, 26 Apr 2013 10:43:04 -0300 Equity markets closed modestly on the plus side yesterday even after a slightly worse-than-expected existing home sales number out of the U.S. http://www.lom.com/publications/Weekly-Global-Market-Commentary_04_23_2013.pdf Weekly Global BE8C9826-647B-4F74-A4BC-610C75518520 Tue, 23 Apr 2013 11:14:55 -0300 An expanded version of OPUS, LOM’s proprietary online account portal exclusively for LOM Private Clients, has been released today http://www.lom.com/newest-release-of-opus Press Releases and News FB26AF1C-D3A2-4058-A259-CB96F933B226 Tue, 16 Apr 2013 17:19:32 -0300 Yesterday equity markets fell, gold prices tumbled and bonds rallied during a rare "risk off" day as investors sought safety in the wake of an apparent terrorist attack at the Boston Marathon and weaker Chinese economic data. http://www.lom.com/publications/Weekly-Global-Market-Commentary_04_15_2013.pdf Weekly Global AB94F57E-130A-4656-A2F2-7DF646AD80E8 Tue, 16 Apr 2013 09:51:35 -0300 Last week risk markets found resistance near recent highs as economic data from the U.S. suddenly appeared less favourable after several weeks of improving performance. http://www.lom.com/publications/Weekly-Global-Market-Commentary_04_08_2013.pdf Weekly Global 9A0731F8-17B8-4C75-ACE7-A98521D285FA Mon, 8 Apr 2013 10:43:31 -0300 Stocks rallied last week, recovering from earlier losses when Cyprus banks reopened on Thursday easing concern about Europe’s debt crisis. http://www.lom.com/publications/Weekly-Global-Market-Commentary_04_01_2013.pdf Weekly Global C7608C90-11D3-455A-9115-2FDC7F662D7B Mon, 1 Apr 2013 11:14:36 -0300 Bermuda has been placed in the lowest risk category for money laundering and terrorist financing in a recent US report. http://www.royalgazette.com/article/20130326/NEWS/703269937 Press Releases and News 91981200-6573-4872-9FF6-750163FE196C Tue, 26 Mar 2013 09:15:39 -0300 This year’s steadily rising risk markets began capitulating last week on news that the European Union was beginning a crackdown on the small island of Cyprus - once again raising concerns about Europe’s leadership and the ultimate solvency of the euro area financial system. http://www.lom.com/publications/Weekly-Global-Market-Commentary_03_25_2013.pdf Weekly Global 781D8247-BD43-472C-B989-9F773706C218 Mon, 25 Mar 2013 10:53:28 -0300 Last week the Dow Jones Industrial Average continued to trade above its new all-time high, extending the longest rally since 1996 as U.S. economic data remained on track and investors grew less concerned about the ongoing credit crisis in Europe. http://www.lom.com/publications/Weekly-Global-Market-Commentary_03_18_2013.pdf Weekly Global B2236A4D-4CC5-4A5D-9C86-DD896B9167B5 Mon, 18 Mar 2013 11:44:56 -0300 Last week the man in the street got exactly what he asked for... at least in Bulgaria. For many days, thousands of anti-government protesters had been mobbing the streets of the capital city Sofia chanting, "Everybody out". http://www.lom.com/publications/Weekly-Global-Market-Commentary_02_25_2013.pdf Weekly Global 6881C9DE-0E9E-4DC6-B3F8-83020F461838 Mon, 25 Feb 2013 11:22:02 -0400 Lately, shopping is all the rage. It started around the middle of last week when U.S. Democratic party leaders pushed back against America’s automatic government spending reduction programme scheduled to be implemented on March 1. http://www.lom.com/publications/Weekly-Global-Market-Commentary_02_18_2013.pdf Weekly Global 1987A693-6AF6-4E94-B6C7-E2E80B58DDF0 Mon, 18 Feb 2013 11:43:58 -0400 Last week global stock markets met some resistance as the major indices continue to march towards new all-time highs and levels not seen in over four years. http://www.lom.com/publications/Weekly-Global-Market-Commentary_02_11_2013.pdf Weekly Global 9FAC0141-DA00-49BA-8F20-BF0DB00DF935 Mon, 11 Feb 2013 19:39:02 -0400 Investment professionals are carefully analyzing recent central bank policy announcements, particularly those which have lately caused sharp and sudden moves in several of the world’s largest currencies. http://www.lom.com/publications/Weekly-Global-Market-Commentary_01_28_2013.pdf Weekly Global 529215DB-3C8D-4DEE-9AE9-E088AB0D8DF7 Mon, 28 Jan 2013 11:09:17 -0400 Last week global stock markets continued moving up while bond markets held firm on generally improving U.S. economic data. http://www.lom.com/publications/Weekly-Global-Market-Commentary_01_21_2013.pdf Weekly Global 49B40BD7-682F-4644-8328-4841A83D025B Mon, 21 Jan 2013 11:18:12 -0400 Last week risk markets pushed modestly higher despite relatively soft U.S. economic data and rising euro zone unemployment. http://www.lom.com/publications/Weekly-Global-Market-Commentary_01_14_2013.pdf Weekly Global 7F1121ED-B2D3-4A1C-9F83-35E655884F59 Mon, 14 Jan 2013 11:09:11 -0400 Global equity markets experienced sharp price swings with minimal forward progress in Q4 while fixed income markets generally advanced. http://www.lom.com/publications/Weekly-Global-Market-Commentary_01_07_2013.pdf Weekly Global 88757776-47A4-410F-A2A0-0735B840154A Mon, 7 Jan 2013 10:50:59 -0400 Last week economic news flow and trading volumes were light for the Christmas holiday week with investor attention focused on America’s still pending fiscal cliff negotiations which showed few signs of progress. http://www.lom.com/publications/Weekly-Global-Market-Commentary_12_31_2012.pdf Weekly Global 4D1D0718-EFE4-465B-B1B7-83B8D6BE4A50 Mon, 31 Dec 2012 10:47:54 -0400 LOM Securities is pleased to announce that John Portelli is now an assistant vice-president - investments. John joined LOM in March 2010 as a financial adviser. http://www.royalgazette.com/article/20121214/BUSINESS03/712149976/lom-promotes-portelli&utm_source=newsletter20121214&utm_medium=email&utm_content=article_title&utm_campaign=newsletter Press Releases and News AFD43529-170A-4CDC-9536-606B00CCC8D7 Fri, 14 Dec 2012 10:14:16 -0400 Risk markets edged higher last week on the back of modestly improved U.S. economic news despite ongoing euro zone setbacks. American economic data has been decidedly choppy in recent weeks with published data difficult to interpret in the aftermath of hurricane Sandy which caused massive disruption in the Northeastern United States. http://www.lom.com/publications/Weekly-Global-Market-Commentary_12_10_2012.pdf Weekly Global B40EF0A6-C6C1-4263-96B0-BCEDF9B4F03C Mon, 10 Dec 2012 11:54:03 -0400 With just about five weeks left before year-end when the raft of potentially crippling U.S. tax hikes are brought to bear on the fragile economic recovery, practically all that can be heard on the financial news channels is commentators elaborating on what progress is being in made on the fiscal cliff and how it will impact the markets. http://www.lom.com/publications/Weekly-Global-Market-Commentary_11_26_2012.pdf Weekly Global 53A1A564-D89F-4AE6-8CA9-899151BDAC45 Mon, 26 Nov 2012 13:56:41 -0400 Last week saw further declines in risk assets as global equities continued their slide amidst increasing uncertainty about America’s impending fiscal cliff, renewed concerns over the euro zone debt crisis and a recent flare up in Middle East tensions. http://www.lom.com/publications/Weekly-Global-Market-Commentary_11_19_2012.pdf Weekly Global F29D1A1F-6C54-47B7-BD84-CD90502CC66A Mon, 19 Nov 2012 11:30:27 -0400 Last week made the history books as Hurricane Sandy plowed through the Northeastern U.S. seaboard causing the New York Stock Exchange to close for two days in a row and marking the first time that the U.S. stock market was shut down for weather-related reasons since 1888. http://www.lom.com/publications/Weekly-Global-Market-Commentary_11_05_2012.pdf Weekly Global 54924242-8DEE-489C-BC25-14DE154C6B3D Mon, 5 Nov 2012 12:14:11 -0400 The U.S. Commerce department released figures last week indicating that orders for business equipment had stalled in September, signaling a slowdown in investment that may impact U.S. economic growth. http://www.lom.com/publications/Weekly-Global-Market-Commentary_10_29_2012.pdf Weekly Global F82C63CB-364E-4FDE-9808-3BAE56275A9A Mon, 29 Oct 2012 12:00:32 -0300 New York, NY, Oct. 28, 2012 -- In consultation with other exchanges and market participants, NYSE Euronext (NYX) will close its markets on Monday, Oct. 29, 2012 and pending confirmation on Tuesday, Oct. 30, 2012. We support the consensus of the markets and the regulatory community that the dangerous conditions developing as a result of Hurricane Sandy will make it extremely difficult to ensure the safety of our people and communities, and safety must be our first priority. We will work with the industry to determine the next steps in restoring trading as soon as the situation permits. http://www.lom.com/us-markets-closed Press Releases and News A0F152B8-D917-459B-B848-D89F3B719FC7 Mon, 29 Oct 2012 08:00:01 -0300 Hurricane Sandy is currently a Category 2 storm and is expected to pass over or near our Bahamas office in Nassau Late Thursday or early Friday morning. http://www.lom.com/hurricane-sandy Press Releases and News 1766F8A1-D539-4182-B146-A57AA43D4BF0 Thu, 25 Oct 2012 10:02:30 -0300 Last week global stock markets continued their sideways consolidation pattern, plunging on Friday but staying within a newly established trading range. An early bounce from the prior week’s sell off was followed by a sharp drop on Friday in reaction to a slew of poor Q3 earnings announcements. For most of the week, investors were encouraged by better Asian and American economic news, in addition to a handful of banks reporting positive earnings surprises for the latest quarter. http://www.lom.com/publications/Weekly-Global-Market-Commentary_10_22_2012.pdf Weekly Global D59F77E3-8068-4B15-AD2A-370037DA6800 Tue, 23 Oct 2012 08:21:47 -0300 Risk Markets had a bumpy ride last week with the S&P 500 rebounding from its biggest weekly drop in four months. http://www.lom.com/publications/Weekly-Global-Market-Commentary_10_15_2012.pdf Weekly Global B4DCBF10-5A57-40A1-BC2C-6C241C06021B Mon, 15 Oct 2012 15:32:38 -0300 LOM will be represented at this prestigious event. http://www.lom.com/mines-and-money-seminar Press Releases and News 14F0CE6A-67CD-40DD-A318-3F9EA0B38030 Tue, 9 Oct 2012 15:38:28 -0300 Last week, risk markets keyed off optimism about a better looking U.S. economic situation in light modestly improved reports on U.S. manufacturing and unemployment. http://www.lom.com/publications/Weekly-Global-Market-Commentary_10_08_2012.pdf Weekly Global 53E17E7C-5FEC-4235-80AE-03D0B24BE8C1 Mon, 8 Oct 2012 16:25:43 -0300 Risk markets continued their recent consolidation pattern last week after the euphoric glow from the landmark quantitative easing or ‘QE3’ announcements earlier in the month began to wear off and investors started to focus on the many lingering issues in both America and Europe. http://www.lom.com/publications/Weekly-Global-Market-Commentary_10_01_2012.pdf Weekly Global CD95C031-2482-4D5F-8AAA-BDE6748295E2 Mon, 1 Oct 2012 11:32:44 -0300 Risk Markets took a breather last week following 7 consecutive weeks of stock market advances leading up to the major quantative easing (QE) programs launched around the globe this month. Since hitting a recent bottom in early June, the U.S. Stock market has now advanced14.25% and broken through to a new 4-year high. http://www.lom.com/publications/Weekly-Global-Market-Commentary_09_24_2012.pdf Weekly Global E8CB850A-FFB7-4648-99E0-326EC5670EA0 Mon, 24 Sep 2012 14:10:37 -0300 Global stock markets soared last week following Fed Chairman Ben Bernanke’s announcement of yet another round of monetary stimulus. http://www.lom.com/publications/Weekly-Global-Market-Commentary_09_17_2012.pdf Weekly Global 1060CF45-7180-4F1A-A783-EE0E42079B48 Mon, 17 Sep 2012 11:46:23 -0300 Last week's market driving events occurred largely outside the U.S. with the European Central Bank (ECB) announcing further commitment to buying the region's bonds while China moved forward with another large fiscal spending package. http://www.lom.com/publications/Weekly-Global-Market-Commentary_09_11_2012.pdf Weekly Global 00D20884-9630-45F1-9CD1-51D9F89AE054 Tue, 11 Sep 2012 11:17:24 -0300 Incoming economic data last week was generally soft in front of the main event on Friday in Jackson Hole, Wyoming where global policy-makers gathered for their annual conference, culminating in a speech by Fed Chairman Ben Bernanke. http://www.lom.com/publications/Weekly-Global-Market-Commentary_09_04_2012.pdf Weekly Global 17B6C2CD-F0B3-4EBC-A8B2-E601D098C076 Tue, 4 Sep 2012 10:05:52 -0300 After six straight weeks of forward progress global stock markets failed to break into new highs last week, instead finding resistance near the old four-year peak level reached last April, on the S&P 500 before falling back. http://www.lom.com/publications/Weekly-Global-Market-Commentary_08_27_2012.pdf Weekly Global 129E4A4F-F20C-49A0-89CB-6B64D412476C Mon, 27 Aug 2012 12:09:37 -0300 LOM Asset Management’s Stable Income Fund returned 9.54 percent in its first year. As at the end of July, the fund had assets of approximately $25 million after 12 months of operation. http://www.lom.com/stable-income-fund-9-54-return Press Releases and News 6D6DA564-5188-4F32-9D59-DD909DADA366 Tue, 21 Aug 2012 10:44:38 -0300 Last week global equity markets advanced for the sixth straight session pushing the S&P 500 to within a half percent of its four-year high reached in April. http://www.lom.com/publications/Weekly-Global-Market-Commentary_08_20_2012.pdf Weekly Global 64A283FC-D14C-4258-9E4D-75537A031D9F Mon, 20 Aug 2012 12:00:11 -0300 On Friday, the S&P 500 finished up 1.1% for the week, its fifth straight week of gains, despite a relative dirth of constructive U.S. economic data and weaker Asian news including discouraging inflation data and significantly weaker Chinese exports. http://www.lom.com/publications/Weekly-Global-Market-Commentary_08_13_2012.pdf Weekly Global 85F3CB0C-B13D-4BC6-95AF-12BAAB184E8B Mon, 13 Aug 2012 16:47:23 -0300 Friday’s somewhat encouraging U.S. jobs report overshadowed a lack of constructive guidance from last week’s closely-watched central bank meetings on both sides of the Atlantic. http://www.lom.com/publications/Weekly-Global-Market-Commentary_08_06_2012.pdf Weekly Global B74FAF09-8E76-44ED-A979-88CEB330D77F Mon, 6 Aug 2012 14:06:07 -0300 On Thursday the ECB President Mario Draghi stated that the European Central Bank is ready to do "whatever it takes to preserve the euro" hinting that the European Central Bank may further increase its powers to stem the tide of uncertainty through the purchase of sovereign-state bonds. http://www.lom.com/publications/Weekly-Global-Market-Commentary_07_30_2012.pdf Weekly Global D3E4DB8A-5D2F-49A3-B615-98D3FBF6280C Mon, 30 Jul 2012 14:07:03 -0300 Similar to Sylvester Stallone’s character in the 1993 movie ‘Cliffhanger’ who dangled nervously from a precipitous rock face in the Colorado Rocky Mountains, such is the predicament now facing the already teetering U.S. economy, which is fast approaching a monumental raft of fiscal stimulus programmes scheduled to end abruptly early next year, potentially sending the world’s largest economy back into a recession. http://www.lom.com/publications/07-30-12-Fiscal-Cliffhanger.pdf Weekly Global 984B23C2-21D7-48D5-A5E1-594B91D6A57D Mon, 30 Jul 2012 11:57:49 -0300 Even after last Fridays’ market decline, global stocks posted modestly higher gains over the past week brushing off another round of mostly weaker economic news flow from both sides of the Atlantic. http://www.lom.com/publications/Weekly-Global-Market-Commentary_07_20_2012.pdf Weekly Global 2AD84D7E-E14C-4D4C-B284-8F53867D42B0 Mon, 23 Jul 2012 13:51:25 -0300 The European sovereign debt crisis remained the center of risk market concerns over the second quarter of 2012 as the knock-on effects of slowing economic growth and rising euro credit spreads drove investors to high quality U.S. fixed income assets. http://www.lom.com/publications/7-16-12-Weekly-Global-Market-Commentary.pdf Weekly Global 711D5BCC-830D-47B2-83A0-57835284C553 Mon, 16 Jul 2012 11:28:10 -0300 It may be only a coincidence that on either side of the Atlantic Ocean, two major global banking CEOs with very similar names have recently found themselves in deep stuff. http://www.lom.com/publications/Weekly-Global-Market-Commentary_07_09_2012.pdf Weekly Global D507E472-0B1D-4F1E-A62C-236F2FA61D3D Mon, 9 Jul 2012 15:20:19 -0300 With the conclusion of the two-day European Summit on Friday a sigh of relief fell over the Iberian Peninsula. Responding to immense pressure, Angela Merkel softened her hard-line stance on debt repayment and fiscal discipline. http://www.lom.com/publications/Weekly-Global-Market-Commentary_07_02_2012.pdf Weekly Global 46A78D10-EB53-4E42-AE2E-FE3FB98056CC Mon, 2 Jul 2012 15:17:14 -0300 The LOM Fixed Income Fund has posted positive annual returns for the last 11 years straight and has continued this trend so far in 2012. http://www.lom.com/lom-fixed-income-performance-update Weekly Global DB8A1397-F540-4056-A2C9-818794306B8F Mon, 25 Jun 2012 13:40:06 -0300 Good things never seem to last forever and so it appears to be now with the so-called global economic recovery. What had been previously been declared to be a slow but wide-spread economic bounce appears to now have officially stalled, at least according to the latest series of economic data showing few signs of encouragement. http://www.lom.com/publications/Weekly-Global-Market-Commentary_06_25_2012.pdf Weekly Global A19C14E5-E1D0-4B1E-B2E0-7FE50747A998 Mon, 25 Jun 2012 11:10:55 -0300 Last week risk markets moved upwards in choppy sessions keying off headline European news and in particular speculation over the Greek election which occurred last weekend. http://www.lom.com/publications/Weekly-Global-Market-Commentary_06_19_2012.pdf Weekly Global 7EBAE1F6-36DF-4410-8D1F-45037AB30641 Tue, 19 Jun 2012 10:37:47 -0300 Last week risk markets once again proved that volatility is here to stay. Early in the week global stock markets muddled through relatively quiet sessions while awaiting Wednesday’s closely-watched European Central Bank (ECB) meeting. http://www.lom.com/publications/Weekly-Global-Market-Commentary_06_11_2012.pdf Weekly Global 67D8C786-33E6-4F8A-B5E0-C11F95A97A61 Mon, 11 Jun 2012 14:29:42 -0300 Last Friday, stock markets tumbled around the globe on disappointing American employment figures which showed a lower-than-expected increase of just 69,000 jobs. http://www.lom.com/publications/Weekly-Global-Market-Commentary_06_04_2012.pdf Weekly Global 29D2FB2C-FBAB-4CA5-BEB5-13CAE38268E4 Mon, 4 Jun 2012 15:24:55 -0300 Last week equity markets staged a modest rebound, the greenback rallied and the euro traded down to a 22-month low amid further concern over the ongoing European debt crisis, this time with the focus on Spain. http://www.lom.com/publications/Weekly-Global-Market-Commentary_05_28_2012.pdf Weekly Global D4506041-A5D9-4965-ACF5-563376738A6A Mon, 28 May 2012 11:38:54 -0300 Rising fears that the inconclusive Greek elections may have placed the troubled peripheral nation on a path towards exiting the euro zone sent risk market plunging downwards last week. http://www.lom.com/publications/Weekly-Global-Market-Commentary_05_21_2012.pdf Weekly Global D2D37B98-16A7-42CB-8C42-58F07B4E9DD2 Mon, 21 May 2012 11:04:23 -0300 Greece continues to weigh on investor confidence in the market as there seems to be no headway in voting for a new coalition government. http://www.lom.com/publications/Weekly-Global-Market-Commentary_05_14_2012.pdf Weekly Global EDB4AE6D-8B92-4E62-9F80-DD2F2F9E8BF7 Mon, 14 May 2012 14:54:29 -0300 The euro slid for a sixth day in a row this morning as global stock markets continued last week’s slide after French Socialist Francois Hollande was elected president and Greek voters backed anti-austerity parties forcing a new election. http://www.lom.com/publications/Weekly-Global-Market-Commentary_05_07_2012.pdf Weekly Global 2A3CA474-AF92-4D63-8154-492CBB1DDED7 Mon, 7 May 2012 11:44:23 -0300 With just over half of the S&P 500 members having reported their quarterly earnings, last week markets applauded the fact that 70% of companies have so far beat analyst consensus estimates, marking the 13th consecutive quarter of better-than-estimated earnings. http://www.lom.com/publications/Weekly-Global-Market-Commentary_04_30_2012.pdf Weekly Global DAE89BC4-7E4A-417A-954A-168866BB4CBD Mon, 30 Apr 2012 13:51:05 -0300 LOM releases Financial Statements for 2011. http://www.lom.com/financial-statements Press Releases and News B93AEA2C-77ED-471A-BC7B-4A5F3E0CAE58 Wed, 25 Apr 2012 11:33:23 -0300 LOM today releases the 2011 Shareholders Letter. http://www.lom.com/publications/shareholders-letter-04_23_2012.pdf Press Releases and News 072C869E-9E06-4AB0-84EA-8DEFF0C3F33C Wed, 25 Apr 2012 11:30:16 -0300 LOM (Holdings) Limited ("the Company") announced that Max Quin was appointed a director of the Company at the Board of Directors meeting. http://www.lom.com/lom-holdings-limited-announcement Press Releases and News C00902D8-A186-4471-907D-0AB0C18E70B1 Wed, 25 Apr 2012 11:27:39 -0300 Economic data continued mostly mixed last week, but surprisingly strong quarterly earnings announcements from bellwether companies pushed markets modestly higher over the five day period. Fixed income markets were also choppy over the past several days as interest rates remained relatively unchanged and credit spreads fluctuated in reaction to economic data. http://www.lom.com/publications/Weekly-Global-Market-Commentary_04_23_2012.pdf Weekly Global C3D1465B-4813-40A3-A7E4-265E86BD20E6 Mon, 23 Apr 2012 14:38:18 -0300 Retail sales in the U.S. increased in March more than originally forecast. A 0.8% gain was reported, beating forecasts nearly 3 fold. http://www.lom.com/publications/Weekly-Global-Market-Commentary_04_16_2012.pdf Weekly Global AAF79CBC-1745-42F2-ACFD-34411393B93E Mon, 16 Apr 2012 14:58:44 -0300 Financial brokerage firm LOM Group has announced the launch of a new online equities trading service. http://www.royalgazette.com/article/20120411/BUSINESS02/704119936/-1 Press Releases and News C8E18748-D51E-4D98-9D7B-96ED73E7BAE8 Wed, 11 Apr 2012 10:03:22 -0300 Last week’s economic data grew increasingly mixed in both the U.S. and euro zone as European Central Bank officials left interest rates unchanged and American central bankers downplayed the possibility of further large quantitative easing (QE) programs despite a surprisingly weak unemployment number last Friday. http://www.lom.com/publications/Weekly-Global-Market-Commentary_04_09_2012.pdf Weekly Global 3391CEDF-23CC-49BB-A530-A458CF5C8AC2 Tue, 10 Apr 2012 08:47:51 -0300 After two years of losses, Butterfield Bank (NTB) reported net income of $0.03 per share in 2011, with all quarterly periods registering small profits during the year. http://www.lom.com/publications/NTB-2011-Results.pdf Weekly Global 020FADA3-B68A-475B-B2E8-7C937A7D42E8 Mon, 12 Mar 2012 14:26:10 -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 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 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 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 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 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 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 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