LOM News
02/13/09 - LOM Asset Management will launch a new Euro Fixed Income Fund on February 26th, 2009 12/03/08 - LOM Securities Cayman Ltd. Receives Cayman Islands Chamber of Commerce Corporate Citizen Award 1/21/09 - LOM's Bermuda office has repaired the telephone outage, you should be able to get through without any problems
Traders Run Around Stirring Up Apathy!
by: David Barker, Head Trader, LOM
Good Morning!
Ho Hum…. The more things change, the more they remain the same.
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.
Regional geopolitical concerns after the Iranian escalation in response to Israel’s recent sortie expedition have perversely sent crude oil lower. The logic behind this is really quite unfathomable.
Amongst the financial markets, global bonds are marginally lower after hawkish comments from ECB president Jean-Claude Trichet, while stocks are mostly higher in correction of recent steep losses. The dollar is effectively unchanged. It is also interesting to note that market players are generally placing more weight on comments out of the ECB than they are the Fed. This could be due a paradigm shift in thinking toward a Central Bank that is building more and more credibility on the world stage. Could it be that 3 years from now the Europeans will replace the US Fed as the most influential policy makers in the world?
Ho Hum…. The more things change, the more they remain the same.
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.
Regional geopolitical concerns after the Iranian escalation in response to Israel’s recent sortie expedition have perversely sent crude oil lower. The logic behind this is really quite unfathomable.
Amongst the financial markets, global bonds are marginally lower after hawkish comments from ECB president Jean-Claude Trichet, while stocks are mostly higher in correction of recent steep losses. The dollar is effectively unchanged. It is also interesting to note that market players are generally placing more weight on comments out of the ECB than they are the Fed. This could be due a paradigm shift in thinking toward a Central Bank that is building more and more credibility on the world stage. Could it be that 3 years from now the Europeans will replace the US Fed as the most influential policy makers in the world?
