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Hedge fund Ospraie Management LLC to close after losing 27% of its value in the month of August and 38.59% this year
Wed, Sep 3 2008, 06:34 GMT
by Nicole Elliott
Quote:
‘To have a goal is only to follow a line. I prefer to follow a compass. It needs to be flexible because life decides for you.’ Mourad Mazouz (1962-)
The News:
Hedge fund Ospraie Management LLC to close after losing 27% of its value in the month of August and 38.59% this year; Lehman bought 20% of this fund in 2005.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
From today GB August HBOS House Prices (versus –1.7% M/M and –8.8% Y/Y July).
00:01 GB August Nationwide Consumer Confidence 52 versus revised 52 July.
02:30 AU Q2 GDP +0.3% Q/Q, +2.7% Y/Y, versus +0.6% and +3.6% Q1.
09:30 GB August Services PMI (46.5 to 48.0 versus 47.4July).
10:00 EZ15 July Retail Sales (-0.6% to +0.6% M/M, -4.0% to –1.3% Y/Y, versus -0.6% and –3.1% June).
10:00 EZ15 revised Q2 GDP (-0.2% Q/Q, +1.5% Y/Y, versus –0.2% and +1.5% initial Q2).
10:30 GB August BRC Shop Price Index.
12:30 US August Challenger Job Cuts (versus 103.31 and +140.8% July).
14:00 CA Bank of Canada interest rate decision (unanimously expected unchanged at 3.00%).
15:00 US July Factory Orders (-0.1% to +1.7% versus +1.7% June).
19:00 US September Fed Beige Book Economic Report.
The Psychology:
The Bank of England and Swedish Riksbank start two-day rate-setting meetings (expected unchanged at 5.00% and 3.00% respectively).
The Risk:
Stock markets wake up to the bond market’s reality.
Today’s most interesting chart: US 5-year TNote
Closing at highest price (lowest yield) since April, completing an inverted ‘head-and-shoulders’ base.
Published on Wed, Sep 3 2008, 06:37 GMT
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Published On Wed, Nov 26 2008, 07:35 GMT
Mizuho Corporate Bank
| 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
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