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Drummond Brodeur, VP, Portfolio Management and Global Investment Strategist (Podcast)

Drummond Brodeur, VP, Portfolio Management and Global Investment Strategist, Signature Global Asset Management: Please click HERE to listen

Market Volatility – triggered by Ben Bernanke’s comments last week, signaling that we are in a period of transition from a liquidity-driven market back to a more fundamental market driven by economic growth and earnings; Equity markets are collateral damage – volatility is from rates and currency markets

Carry Trade Unwind – 10-year rate bounced to 2.4%; traders have to unwind their positions because of increased risk (markets are more expensive, volatility has gone up)

Portfolios – cash raised by about 10% – a bit more volatility expected in the next 6-8 weeks; will take advantage and use some of the cash

“Volatility is just a technically driven rehearsal, not a fundamentally scary situation. Credit markets are still open and working – world and financial markets are adjusting to what will be an environment with rising rates with less liquidity. Ultimately this is a positive development going forward.”