Subscribe to RSS feedCapesize confidence collapses in derivatives dive
by
Michelle Wiese Bockmann and Liz McCarthy, London
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last modified
Nov 27, 2009 09:57 AM
A COLLAPSE in capesize confidence saw near-term freight derivatives contract values fall as much as 30% during two of the busiest and most volatile trading days of the year.
The sell-off on November 18 and 19 came after rates for the underlying physical market for capesize bulk carriers spiked, then fell sharply.
“There were a lot of people losing a lot of money,” reported one derivatives broker about...
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