Derivatives market trades on Sunday to cut Lehman Brothers counter-party risk

September 14, 2008 by · Leave a Comment
Filed under: Economic News 

Unprecedented, this must be a signal that things are worse than most people think.  Opening a Sunday session for Smart money to unwind  their derivative position.  This week should be a rollercoaster ride.

News Release:

Major players in the $455 trillion global derivatives market rushed Sunday to scale back exposure to a potential bankruptcy filing by investment bank Lehman Brothers in a rare emergency trading session. Trading took place as U.S. regulators and bankers were making last-ditch efforts to prevent toxic assets from ailing Lehman Brothers spilling into global markets and rupturing investor faith in the international financial system.

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