Draghi’s Stimulus Effect Fizzles as Euro Rallies to Reverse Drop – Bloomberg

It took less than 90 minutes for the euro to reverse all of the decline sparked by the European Central Bank’s package of monetary stimulus.


Fed’s March Policy Message May Be Crimped by Muscular ECB Move – Bloomberg

Dramatic action by the European Central Bank is raising questions about how far the Federal Reserve can diverge from its peers.

Brazil Stocks, Currency Extend Rally on Former President Charges – Reuters

Brazil’s stocks and currency rose on Thursday, extending a recent rally fueled by hopes of political change after prosecutors charged former President Luiz Inacio Lula da Silva in a money laundering investigation.

Oil Jumps as Yuan Hits 2016 High – Reuters

Oil prices jumped on Friday supported by fresh investment and a strong yuan, which makes fuel cheaper for Chinese importers, but analysts warned that any price rally was pre-mature as a global glut remained in place.

Mexico’s Central Bank Could Act Again After Surprise Rate Hike – Reuters

Mexico’s central bank is pleased with the results of its surprise interest rate hike and new currency intervention policy and is prepared to act again “if necessary,” central bank Governor Agustin Carstens said on Thursday.

Japan’s Long Road From Revival to Growth – Nikkei News

As northeastern Japan continues rebuilding from the devastation of five years ago, the nation’s economy remains stuck between deflationary malaise and robust growth.

Mystery `Dude’ Rattles Turkish Stock Traders With Massive Bets – Bloomberg

There’s a specter haunting stock traders in Istanbul that some are calling “the dude.”

Regulatory News

SEC Urged to Beef Up Trading Safeguards – Financial Times

Vanguard the asset manager and high-speed trader Virtu Financial are among a group of financial industry heavyweights urging the US Securities and Exchange Commission to help avoid a repeat of the chaotic trading that rocked markets last August.

Bank Regulator Wades Into Fintech – Wall Street Journal (subscription)

Office of the Comptroller of the Currency weighs first charter request from virtual-currency firm, plans to release white paper on fintech

Proposed Regulatory Change Could Hit U.S. Options Trading Volume – Reuters

U.S. options exchanges, already hard pressed to revive declining volumes, face a new threat from regulatory changes that could restrict the use of options in retirement accounts, which until now have been a growing part of the industry.

Company News

Deutsche Bank Cuts Bonus Pool 17% as Cryan Spreads Legal Costs – Bloomberg

Deutsche Bank AG, which runs Europe’s biggest investment bank, cut its bonus pool by 17 percent at constant exchange rates as co-Chief Executive Officer John Cryan pushes employees to help shoulder the company’s rising legal expenses.

ICAP Global Broking Releases New Products – Profit & Loss

Icap has announced the release of two new products aimed at buy side users.

Bloomberg Launches Quant Model for Liquidity Risk – Profit & Loss

Bloomberg announced the latest addition to its regulatory and accounting products suite this week, unveiling a new Liquidity Assessment Tool (LQA) that makes use of machine learning to estimate liquidity risk.

BlackRock Hires Former Bank Regulator as It Bulks Up Financial Markets Advisory Unit – The Wall Street Journal (subscription)

The world’s largest asset manager has hired a former banking regulator as it bulks up an advisory unit that works with large banks, insurers and other financial institutions.

FXCM Announces Q4 Results: Gets More Time for Asset Sales – Profit & Loss

Brokerage firm FXCM has signed a Memorandum of Understanding (MOU) with Leucadia National to extend the firms’ credit agreement for another year to enable FXCM to “optimise remaining asset sales”.

Aspect Capital Buys Currency Manager – Profit & Loss

Aspect Capital has acquired Auriel Capital Management and hired the team behind it. Asif Noor and Anoosh Lachin who founded Auriel in 2004, have joined Aspect to develop systematic global macro and currency strategies.

Market Savvy

Draghi Defines His Era With Stimulus Measures Locked Into Next Decade – Bloomberg

Whether Mario Draghi’s latest barrage of stimulus works or not, the European Central Bank president made one thing clear on Thursday: he won’t be the one to clean up afterward.

Mario Draghi and the ECB Learn From Experience – Financial Times (subscription)

Even central bankers can learn from their past mistakes. The package of measures unveiled on Thursday by the European Central Bank is an intelligent response to the criticisms levelled against it for the debacle of its previous, underwhelming easing in December, and against the Bank of Japan for its misguided experiment with negative rates last month.

Aussie Advances With Loonie as China Boosts Commodity Currencies – Bloomberg

Australia’s dollar strengthened with South Africa’s rand and Canada’s loonie after China’s central bank boosted its fixing for the yuan by the most in four months, spurring demand for currencies linked to commodities.

IEA Says Oil Price May Have Bottomed – Bloomberg

Oil prices may have passed their lowest point as shrinking supplies outside OPEC and disruptions inside the group erode the global surplus, the International Energy Agency said.

Press Releases

Thomson Reuters Consolidates Buy Side Offering on Eikon – Profit & Loss

Thomson Reuters has consolidated 10 different financial desktop applications onto its Eikon platform.

Industry Events

FIA: Boca 2016, 15-18 March in Boca Raton, FL

FOW: Derivatives World, 12-13 April in Hong Kong

FX Week FX Invest North America, 12 April in Boston, MA

Profit & Loss Forex Network London, 14 April in London, UK

Profit & Loss Latin America, 20 April in Mexico City

ACI World Congress 2016 – Indonesia, 26-30 April, Jakarta

Eurofinance:  Asia Treasury, 18-20 May in Singapore

Profit & Loss Forex Network New York, 26 May, New York City

FIA: IDX 2016, 7-8 June in London, England

Profit & Loss Scandinavia, TBD September, Copenhagen

Profit & Loss Forex Network Chicago, 28-29 September, Chicago, IL

Sibos 2016, 26-29 September in Geneva, Switzerland

FIA: Expo, 18-20 October in Chicago, IL