Think Globally

摘要

The markets have been highly correlated globally but fragmented locally for the past five years or so - mainly because of global trade, but also because of the rise of hedge funds that trade the arbitrage around the world. The markets have been fragmented locally because the onset of electronic trading has created multiple venues for execution and high-frequency statistical arbitrage opportunities for short-duration alpha managers.rnDespite dramatic changes during 2008, traders for domestic markets - whether in the U.S. or locally in Europe - need to be aware of the global market movesrnbecause the impact of global trends on their little corner of the world will continue. Traders need to be global now, even if they trade just a certain sector in the U.S.A.