LTP Trade Finance IndexÖ - May / June performance update

The LTP Trade Finance IndexÖ delivers steady performance during May / June 2002

The LTP Trade Finance IndexÖ - the independent total return index covering the trade finance asset class - delivered a steady performance during May and June. With US Dollar interest rates virtually static, capital returns were notable by their absence, leaving trade finance investors almost wholly reliant upon interest accrual. Yet investors should note that these low key total returns disguised mounting turbulence, as Brazil's problems begin to affect the wider market.

US Dollar interest rates LIBOR held steady in May, and fell by just 3 basis points in June. Whilst some commentators expect currency weakness to force the US Federal Reserve to raise interest rates sooner rather than later, this is hardly guaranteed. Mr...

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