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
Markets Return from Summer Holidays to a World of Volatility!
Good Morning!
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.
The summer of 2008 was no exception, but given the backdrop of event driven effect the moves have been extraordinary and probably the most vicious in 25 years.
In no particular order, all markets (equities, bonds, foreign exchanges and commodities) have been effected by Hurricane Gustov, a small war by the Russians on a NATO ally, the continuing contraction of global credit, an implied bail out of the US GSE’s and a weakening global economy which is simultaneous plagued by inflationary pressures.
What has happened? The dollar has rallied strongly, global stocks have been marked down, bonds have risen in a flight to quality and commodities have at least temporarily reversed course. It will very interesting to see how the wisdom of seasoned traders weighs in as they return to the world’s dealing rooms, well rested and ready to attack volatility.
