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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (84595)	9/4/2008 11:13:34 PM
From: ggersh	1 Recommendation Read Replies (1) \| Respond to of 116555

John, "I would advocate that London's single biggest advantage in it's continuing role of challenging New York as the center of Global Capital Markets; is the Global domination of currency trading, especially currency cross rate (pairs) trading; and the concomitant advantage it provides in creating more sophisticated structured products. Sarbanes Oxley also has lead to a dimunition of New York as the Global Apex of Finance." Yes I agree, lived in London for 6 years, back in the 90's and it was fascinating to see the world. Quite an eye opener. As I traded the Bund out there I had to learn to hedge the D-mark, Pound and Dollar. It's a natural out there as they all traveled 45 minutes by plane to a different currency. Another experience was back in 87, as I worked an over-night desk. My main customer back then was a Bond-Cash trader. Always took huge positions just before NFP. But the main story that we talked about was whether the Yen would one day be on par with the Dollar. Still waiting but eventually...... gersh