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Gold/Mining/Energy : Gold Price Monitor
GDXJ 99.85+6.2%Nov 24 4:00 PM EST

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To: John Hunt who wrote (38470)8/7/1999 7:51:00 AM
From: John Hunt  Read Replies (1) of 116764
 
Markets Fear Hedge Fund Collapse May Be Looming

<< Concern is growing in the financial markets that a major hedge fund is in difficulty, prompting fears of a repeat of last year's crisis when the Federal Reserve in the US had to mount a $3.5bn bail-out of Long-Term Capital Management (LTCM) in order to stave off a global financial collapse.

The market for swaps, complex interest-rate derivatives which are widely used by hedge funds and the proprietary trading desks of the big investment banks to fund their high-risk trading strategies is, say traders, showing the same signs of distress that was seen after the Russian bond default last August. >>

... more at ...

independent.co.uk



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