Barclays PLC has agreed to pay $50 million to settle claims that it misused a system intended to block unprofitable foreign exchange trades as a way to boost the bank’s profits while hurting clients, according to court documents filed Wednesday in New York federal court.
Pound traders’ expectations for price swings against the euro in the next six months are at the highest level since the currency bloc’s debt crisis in 2011, as U.K. Prime Minister David Cameron seeks a deal on the terms of Britain’s membership of the European Union.
Slowly, as global markets show signs of waking from their New Year’s rout, the lockstep moves that have paralyzed investors from Tokyo to New York are beginning to ease.
Rising global inventories thanks to plentiful harvests, the high value of the dollar as well as falling oil prices have meant lower prices for agricultural commodities, weighing on farm incomes.
The Brazilian real underperformed on Thursday after the country received a rating downgrade, while Latin American markets broadly inched higher due to hopes for a stabilization in oil prices. Citing considerable economic and political challenges, Standard & Poor’s downgraded Brazil deeper into junk territory. The currency closed down 1.4 percent at 4.046 to the dollar.
Yuan borrowing costs in Hong Kong climbed to one-month highs, a sign of renewed appetite for bets against the currency.
Excessive loosening of monetary policies in China would create asset bubbles and increase downward pressure on the yuan, the vice governor of China’s central bank warned
The New York Federal Reserve has warned that asset managers are vulnerable to quasi-bank runs that can cause “significant negative spillovers” across financial markets.
Group of hackers and traders accessed deal news to make trades before the information came out, authorities say.
The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight and Office of Data and Technology staff today extended the request for comment period on the draft technical specifications for certain prioritized swap data elements and associated questions.
When the U.S. Federal Reserve’s newest policymaker Neel Kashkari dropped a bombshell with a call to break up big banks on Tuesday, it was met with a predictably indignant response from their lobbyists.
China’s central bank said some banks will be forced to lock away more reserves, a move that may contain credit growth after advances by smaller lenders jumped in January.
Although the carry trade is most widely associated with the foreign exchange market, a new report by Campbell & Company offers research into the “powerful portfolio effect” and “superior long term, risk-adjusted returns” that can be gained from a multi-asset class approach to carry.
The bank will keep rates below zero until at least the first quarter 2018, according to a majority of respondents in a Bloomberg survey of 41 economists.
In what could well be a final act of desperation, central banks are abdicating effective control of the economies they have been entrusted to manage. First came zero interest rates, then quantitative easing, and now negative interest rates — one futile attempt begetting another.
Yuan bears say this month’s rally shouldn’t be taken as a sign China’s great reversal in capital flows has finished. Goldman Sachs Group Inc. warns that any further shock depreciation will only accelerate the exit.
The Board of Directors of National Futures Association (NFA) has elected Michael C. Dawley, Managing Director, Goldman Sachs & Co., to serve a one-year term as Chairman.
Singapore Exchange (SGX) is seeking public feedback on proposed amendments to the Futures Trading Rule, SGX-Derivatives Clearing (SGX-DC) Rules and various contract specifications.