Conference Call: New Forces Moving Global Equities Markets [10/27/08]
New Forces Moving Global Equities Markets
The global financial markets seem like a bunch of lemmings: moving in chaotic tandem, tripping over each other only to fall down. Why do the various market indices, especially the US equities markets keep moving in lock-step? (Dow Jones Industrial Average, S&P 500, Nasdaq) Our research team reveals the secret. We shed light on the key factors moving these volatile markets. You'd be surprised to know what's really going on behind the scenes. Who's pulling the strings?
During volatile markets your cash, liquid assets are most important. They are the foundation of your lifestyle. We provide a consistent strategy for you to keep your assets in cash equivalent accounts. These accounts allow you full, uninterrupted access to your money. Meanwhile our asset management teams can manage the value of your account to provide consistent returns. Your money, your accounts. No lock-in period, no redemption period or early exit fees. Millennium Lyon provides a better way to manage your cash and investment accounts. Liquidity, safety and low risk with peace of mind.
Join our conference call every Monday @ 5PM (EST).
Time: 5PM - 5:15PM (EST)
Call: 712-580-6300
PIN: 588164
Thanks to all who attended our conference call on Monday. If you missed the call, you can access the summary on our blog.
Millennium Lyon Asset Management
Labels: equity markets, global markets
Central Banks Intervene to Calm Volatile Markets
Central Banks Intervene to Calm Volatile MarketsBy VIKAS BAJAJ
Central banks around the world acted in unison to calm investors by injecting tens of billions of dollars into the financial system.
full articlecredit markets, liquidity, subprime, mortgages, marketsLabels: credit markets, global markets, liquidity, mortgages, subprime
Goldman works on half of global buyouts
Goldman works on almost half of private-equity dealsSo far this year, Goldman Sachs has been involved in almost 50% of private-equity deals worldwide. The industry is on pace for a record year, with $483 billion worth of deals having been announced by the end of May. That's more than twice as much as last year at this time.
Goldman works on half of global buyoutsJames Mawson
04 Jun 2007
Goldman Sachs has worked on nearly half of all private equity deals around the world so far in 2007, in what is turning out to be a record year for the industry.
The combined value of buyouts in the first five months of this year has climbed to nearly $500bn (€372bn), according to data provider Dealogic, and Goldman has worked as an adviser or finance arranger on 50 deals worth a combined $226.5bn.
Goldman pushed JP Morgan and Citi into second and third place respectively, but was boosted by the firm advising its in-house private equity arm’s $87.7bn of deals. Based on an assumed 1% to 2% advisory and debt arrangement fee, Goldman Sachs could have earned $4bn in the first five months, if all announced deals are completed.
By the end of May, private equity firms had announced $483bn of deals, more than double the total by the same stage of 2006 and nearly 30 times the value a decade before.
A third of the year’s deals were announced last month, Dealogic said, including Goldman Sachs and TPG Capital’s agreed $25bn take-private of US telecoms company Alltel. However, Kohlberg Kravis Roberts has taken the top spot for financial sponsors having agreed $123bn of deals.
KKR’s global buyout total was nearly the same size as the entire value of announced deals in Europe, according to Dealogic, which was $734bn.
goldman sachs, private equity, investment banking, global marketsLabels: global markets, goldman sachs, investment banking, private equity
Greenspan's comments keep sending markets spinning
Greenspan's comments keep sending markets spinningFor 16 years as the Federal Reserve Board chief, Alan Greenspan issued only reserved comments about the financial industry, the economy and other weighty issues, writes David Callaway for MarketWatch. Now that he's no longer the Fed chairman, however, he seems to be constantly making comments that briefly send the markets into a tailspin, and he's been at it again this week.
Greenspan unavoidable for comment
Commentary: Free of Fed collar, former chief can't stop blabbing
By
David Callaway, MarketWatch
Last Update: 3:26 AM ET May 24, 2007
Anyone else grown tired yet of Alan Greenspan's Cassandra act?
The former Federal Reserve Board chief, for 16 years the epitome of economic discretion, offering only mumbled (and sometimes jumbled) assurances to weighty questions about market bubbles and global financial risk, is suddenly shouting from the rooftops.
It seems that a week can't go by without Greenspan issuing some dire warning about the markets or global economy, typically sending stocks into a brief tailspin until investors remember that he's not the Fed chief anymore. Unlike the mythical Cassandra, doomed to have nobody believe her predictions, people actually believe Greenspan.
Wednesday he was at it again, telling a conference in Madrid via teleconference that the China market is due for a "dramatic contraction."
As wire services reported the comments, what had been a nice gain for the Dow Jones Industrial Average, above 13,600, suddenly evaporated and turned into a 30-point loss. The Dow (
$INDU) managed to recoup some of the losses by the end of the day, closing down 14.30 points at 13,525.65.
See Market Snapshot.Perhaps Fed Chief Ben Bernanke should give old Greenspan a call and let him know that while it's fine to go make a bundle on the chicken dinner-speech circuit after one's retirement, it's not a great idea to be going around using terms like recession and dramatic contraction to people who aren't used to hearing you say those words.
As a journalist over the past 20 years, I've heard Greenspan give many speeches. All were given in his trademark plodding style. Then I had the opportunity two years ago to hear him give a speech off the record. Suddenly he was Bill Maher, providing succinct thoughts and theories, laced with hilarious commentary. No wonder he is in such demand, now that he can speak freely.
At this off-the-record speech, he warned about an impending housing crisis in the U.S., well before even the first hint of a slowdown had occurred. He also warned that the Chinese government would have to get more transparent with its financial machinations, something we're still waiting for. Let's face it, he knows what he's talking about.
So when Greenspan warns about China's stock market, it makes sense to listen. But then again, who isn't warning about China these days? Even Chinese experts are warning about China.
See Todd Harrison's latest column. That China is going to blow and blow big is a given. The question is how will that spread to the rest of the world's markets? Everyone seems pretty confident that it won't spread to the established markets, largely because Western investors have been locked out of investing in Shanghai's local market during the boom of the past year. Most economists don't even think a big fall in Chinese stocks will hurt the Chinese economy, as it speeds merrily along.
That's probably right. But while the raging bull market in China may not be tied to the rest of the world, the psychology behind it has definitely caught on. With markets in the U.S. at record highs and markets in Europe and elsewhere in Asia soaring as well, we're heading into the summer with a pretty confident feeling. Summer rally anyone?
When that type of collective mindset seeps in, and you've got people talking about the stock market going straight up for another year - or two -- it's a recipe for a surprise rout one day, or week, or month.
Greenspan hasn't warned us about that yet. But he's probably got at least two or three more speeches coming before the end of the month, so anything can happen.
The only thing we shouldn't be when a big rout does come one day is surprised.
wath the videofull articleLabels: alan greenspan, economic impact, global markets
CME commodities to trade 24 hours a day starting in June
CME commodities to trade 24 hours a day starting in JuneAfter reaching record volumes in 2006, the Chicago Mercantile Exchange plans to offer round-the-clock trading of commodities beginning June 4. "CME is a global marketplace, and we are committed to meeting customers' risk management and trading needs whether they are located in Asia, Europe, Latin America or the U.S.," said Terry Duffy, chairman of the CME.
full storyCME, derivatives markets, global markets, trading, electronic tradingLabels: CME, derivatives markets, electronic trading, global markets, trading
SEC mulls policy change on foreign investment
SEC mulls policy change on foreign investmentA proposed shift in SEC policy would allow foreign stock exchanges and brokers to service U.S. investors with being regulated by the SEC. The policy change comes amid mounting U.S. interest in foreign securities, increases in trading technology and cross-border exchange consolidation.
full storyforeign investment, US, SEC, global markets, trading, technology, exchangesLabels: exchanges, foreign investment, global markets, SEC, technology, trading, US
NYSE: Electronic Trading on the Front Lines
SEC asks if NYSE's electronic-trading push played role in sell-off
The Securities and Exchange Commission wants to know if the NYSE's push into electronic trading may have played a role in Tuesday's market plunge. In November, the NYSE said it would cut costs by closing one of its five trading rooms. Now regulators are asking if that made it tougher for the NYSE to handle Tuesday's trading surge.
Full StoryComputer problem may have exacerbated massive fall on Wall StreetIn the midst of what was already a rough day on Wall Street, the Dow Jones industrial average suddenly plummeted 200 points within seconds -- one of the fastest falls in the history of the market. Now it appears that the decline may have been the result of a glitch in a Dow Jones computer system.
Full StoryRosenblatt says automation may make NYSE less effectiveRichard Rosenblatt, a member of the
NYSE since 1979 and chairman of Rosenblatt Securities, issued a warning about the automation of the exchange. "The benchmark is whether automation makes the process more efficient but I suspect NYSE and the Securities and Exchange Commission have gone too far with the assumption that transparency equals liquidity," Rosenblatt said.
Full StoryNYSE, NASDAQ, global markets, equity markets, electronic trading, automation, technologyLabels: automation, electronic trading, equity markets, global markets, NASDAQ, NYSE, technology
Is keeping America as center of financial world is good for all?
Is keeping America as center of financial world is good for all?
America's position as the center of the finance world is in peril, according to this author, and expenses associated with regulations such as the Sarbanes-Oxley Act are partly responsible. Joseph B. Fuller, chief executive officer of advisory firm The Monitor Group, wrote in an op-ed piece that America's preeminence in the field is worth defending, and "what we all should realize is that, despite its many shortcomings, the U.S. regime contributed mightily to growing global prosperity."
full articleUS, american regulations, FED, SEC, NYSE, NASD, market leadership, global marketsLabels: american regulations, FED, global markets, market leadership, NASD, NYSE, SEC, US
E*Trade to offer global trading to U.S. customers
E*Trade to offer global trading to U.S. customersOnline broker E*Trade Financial Corp. is unveiling an upgrade to its Web site that will make it easier for U.S. customers to invest overseas. The company's new Global Trading Platform will offer local-currency investments in Canada, France, Germany, Hong Kong, Japan and the U.K. It will eventually expand to cover 42 international markets.
Read this articleetrade, global trading, global markets, brokerageLabels: brokerage, etrade, global markets, global trading
The First Annual Capital Markets Summit: Securing America's Competitiveness
The First Annual Capital Markets Summit: Securing America's CompetitivenessSIFMA co-CEO Marc Lackritz is slated to speak at the First Annual Capital Markets Summit: Securing America's Competitiveness. This full-day event will feature the release of the Commission on the Regulation of U.S. Capital Markets in the 21st Century's report and recommendations, as well as a number of keynote speakers, including Barney Frank, Chairman of the House Financial Services Committee and Mark Olson, Chairman of PCAOB. The U.S. Chamber of Commerce organized this independent, high level, bipartisan commission to consider the appropriate legal and regulatory framework for the U.S. capital markets in the 21st century.
more infofinancial markets, global markets, regulatory environment, competitionLabels: competition, financial markets, global markets, regulatory environment
Tokyo Stock Exchange Wants a Makeover
Labels: global markets, NYSE, stock exchange, TSE
