A Congress Divided: Analysts Explain What it Means for Wall Street
Top Headlines
A Congress Divided: Analysts Explain What it Means for Wall Street – Financial Times (subscription)
Analysts are wrestling with the split result in US congressional elections, which hands control of the House of Representatives to Democrats but gives Republicans an increased majority in the Senate.
- Investor Reaction after Democrats Capture US House Majority – Reuters
- Congressional Gridlock? Financial Markets are Fine with It – Financial Times (subscription)
- Dollar’s Losses Gather Steam as US Stimulus Hopes Fade – Reuters
- Dollar Weakness Helps Emerging Market Currencies after Midterms – Financial Times (subscription)
- A Divided Congress Could Put the Dollar’s Bull Run at Risk – Bloomberg
Wall Street Plays Defense in Attempt to Dodge Midterm Punches
Top Headlines
Wall Street Plays Defense in Attempt to Dodge Midterm Punches – Bloomberg
The midterms come at a time when ballots globally – from Brazil to Italy to the UK – are reshaping the course of policy and fueling major shifts in market sentiment.
Read MoreDollar Ends Winning Streak Before Elections
Top Headlines
Dollar Ends Winning Streak Before Elections – Reuters
The dollar dipped on Monday after three consecutive weeks of gains as investors took profits before US midterm elections this week that may fuel a new bout of volatility for global markets.
- Dollar Set for Pullback After Mid-Term Vote, JPMorgan Asset Says – Bloomberg
- Fidelity Makes Gloomy Forecast for US Elections – Financial News
- Investors Expect No Relief on the Other Side of US Midterms – Bloomberg
- Do Financial Markets Care About a Blue Wave, Red Wall or Gridlock? – Financial Times (subscription)
Is the Global Code of Conduct in Trouble Already?
Top Headlines
Is the Global Code of Conduct in Trouble Already? – Profit & Loss
The opening panel discussion of this year’s Profit & Loss Forex Network Chicagoconference featured an unusually frank and honest discussion about thechallenges associated with implementing the FX Global Code of Conduct.
Read MoreTheresa May Seals Brexit Deal on Financial Services
Top Headlines
Theresa May Seals Brexit Deal on Financial Services – The Times (subscription)
Theresa May has struck a deal with Brussels that would give UK financial services companies continued access to European markets after Brexit.
- UK, EU Close to Brexit Deal on Financial Services: UK Official – Reuters
- Brexit Financial Services Deal Talk Moves Pound Higher – Financial Times (subscription)
- Sterling Climbs on Report Banks to Get EU Access after Brexit – Bloomberg
- UK Expects Brexit Deal with EU By November 21, Dominic Raab Says – Bloomberg
UK Competition Watchdog Clears CME Group’s Buy of NEX Group
Top Headlines
UK Competition Watchdog Clears CME Group’s Buy of NEX Group – Reuters
Britain’s competition watchdog cleared CME Group’s 3.9 billion pounds deal to buy Michael Spencer’s NEX Group, paving the way for a cross-border trading powerhouse.
EU Pledges Access to UK Clearing Houses in No-Deal Brexit
Top Headlines
EU Pledges Access to UK Clearing Houses in No-Deal Brexit – Financial Times (subscription)
Brussels has responded to financial industry calls for continued access to London’s capital markets by providing reassurance that EU groups will temporarily be able to use crucial derivatives clearing services in the UK even after a no-deal Brexit.
Bank Traders Acquitted in Forex Manipulation Trial
Top Headlines
Bank Traders Acquitted in Forex Manipulation Trial – Financial Times (subscription)
After a two-week trial in New York, a jury spent less than a day deliberating on a single charge of price-fixing against each of the defendants: Richard Usher, formerly of JPMorgan Chase; Rohan Ramchandani, formerly of Citigroup; and Christopher Ashton, formerly of Barclays.
UK Derivatives Clearers May Get No-Brexit Deal Reprieve – EU Document
Top Headlines
UK Derivatives Clearers May Get No-Brexit Deal Reprieve – EU Document – Reuters
The European Union might grant temporary permission for clearing houses in Britain to continue serving EU customers if there is a no-deal Brexit next March, an EU document seen by Reuters showed.
Read More
US Attorney: All Avenues Exhausted for Scott’s Extradition
Top Headlines
US Attorney: All Avenues Exhausted for Scott’s Extradition – FX Week (subscription)
Former HSBC trader Stuart Scott has won the right to stay in the UK and avoid extradition to the US to face charges of allegedly manipulating currency prices after the UK Supreme Court denied an appeal request submitted by the US.
Read More