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Jeremy Frommer, CEO of Hedge Fund LIVE Jeremy Frommer has 20 years of industry experience and is currently responsible for general management and leadership of the General Partner. Previously, Mr. Frommer was a Managing Director and Head of the Global Prime Services Group (“GPS”) at RBC Capital... More
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  • Wednesday Morning Notes: Markets Have Strongly Rebounded Off Their Lows  0 comments
    May 25, 2011 10:04 AM

    HedgeFundLIVE.com – Morning Notes

    - Markets have strongly rebounded off their overnight lows
    - Nikkei closed down 50ps with weakness attributed to Japan Trade Balance data, which came in weak, showing the first deficit in 31 years
    - Shanghai closed down 90bps; Hang Seng closed up 10bps
    - Euro and oil have also rebounded nicely off their overnight lows
    - UK GDP came in in line
    - There were rumors out that Greece would hold early elections, which PMs dismissed
    - French Finance Minister Christine Lagarde announced she would seek IMF MD position, the post that Strauss-Kahn had left
    - OECD (Organization for Economic Cooperation and Development) revised its US forecast up to +2.6% from +2.2%; left its global growth forecast unch’d
    - Reports were out that Germany may pass its stress test
    - On economic calendar for today: March FHFA Housing Price Index out at 10a; 5-yr note auction results out at 1p
    - S&P futures are down 2.25 handles from FV ahead of the 8:30a Durable Goods number
    - April Durable Goods Orders Ex Transport: -1.5% vs. +0.6% expected; prior revised up to +2.5% from +2.3%
    - April Durable Goods Orders: -3.6% vs. -2.0%; prior revised up to +4.4% from +4.1%

    - Futures are ticking lower following latest data release; may prove to be short-lived 
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