Lehman said it will spin off its commercial real estate portfolio into a public country and will sell a majority stake in its asset manegement division. They did not announce any major additions of new capital buy said they are open to “strategic alternatives” which essentially is like hanging a for-sale sign on the front door.
Equity futures have given back their early gains and the dollar is dipping within ranges. Beware EUR/JPY selling if things turn ugly on Wall Street.