Lehman Brothers hit with $700m fixed-income losses
Lehman Brothers revealed on September 18 that it suffered a revenue decline of $700 million due to a reduction in its valuations for fixed-income assets. This reduction in valuation was felt most keenly by the US securities dealer's leveraged loan commitments and residential mortgage-backed positions.
Lehman Brothers’ results are being closely watched in the region as an early indication of the true extent of financial institutions' exposure to mortgage and loan commitments. The bank’s third
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