Loop groups and holomorphic bundles

This paper considers the links between the geometry of the various flag manifolds of loop groups and bundles over families of rational curves. Aa an application, a stability result for the moduli on a rational ruled surface of G-bundles with additional flag structure along a line is proven for any reductive group; this gives the corresponding stability statement for any compact group K for the moduli of K-instantons over the four-sphere, and for the moduli of K-calorons over the three-sphere times the circle. The paper also considers the Hecke transforms on bundles induced by outer automorphisms of the loop groups.