Economists Overwhelmingly Expect Fed to Raise Rates in December

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Top Headlines

Economists Overwhelmingly Expect Fed to Raise Interest Rates in December – Wall Street Journal (subscription) WSJ survey finds about 92% of economists surveyed see December liftoff.

Japan Falls Into Recession for Second Time Under ‘Abenomics’ – Bloomberg Japan’s economy contracted in the third quarter as business investment fell, confirming what many economists had predicted.

Big Step Forward for China’s SDR Inclusion – Profit & Loss IMF chief Christine Lagarde has given public support to an IMF staff paper that recommends China’s renminbi (RMB) is admitted to the IMF’s Special Drawing Rights (SDR) basket.

Carney’s Analysis on UK Bond Liquidity Threat Sought by Tyrie – Bloomberg Mark Carney and his officials must take a close look at the risks posed to the UK from a possible drought in bond-market liquidity and report back to Parliament.

LSE, SocGen, CME, UBS Among Big Names in Blockchain Trade Push – Financial News (subscription) Some of the world’s largest exchanges, banks and trading services firms have set up a cross-industry group to explore how blockchain technology could transform the way securities trades are cleared, settled and reported.

 

 

Regulatory News

SFO Charges Ten People with Euribor Manipulation – Profit & Loss The UK’s Serious Fraud Office (SFO) has issued the first criminal proceedings against 10 individuals accused of manipulating the Euro Interbank Offered Rate (Euribor).

BCBS Reports to G20 Leaders – Profit & Loss The Basel Committee on Banking Supervision has published two reports for the G20 Leaders at their Summit in Antalya on 15/16 November.

EU’s Hill Calls for More Hong Kong-European Partnerships  – EU Commission Jonathan Hill, the EU’s financial-services commissioner, has told ASIFMA that an increase in European-Hong Kong partnerships is needed to build unified capital markets.

Will Dodd-Frank Be Repealed? – TABBForum Dodd-Frank is an ambitious piece of legislation, but inevitably will face significant revisions under a new US President.

 

 

Company News

Digital Vega Reports Record Numbers in October – Profit & Loss Multi-dealer FX option trading service provider Digital Vega says it had a record 30.5% month-on-month and 59% year-on-year volume growth for October 2015.

Commodity Trader Cargill Restructures, Cuts Jobs – Reuters Cargill Inc, one of the world’s largest privately held corporations and a top commodities trader, has launched a restructuring that includes layoffs, one company source and four industry sources said on Friday.

Nembrini Exits LCG? – Profit & Loss Sources report that Francois Nembrini has left London Capital Group.

 

 

Market Savvy  

OTP Bank Swings to Q3 Loss on FX Loan Conversions – Reuters Hungary’s OTP Bank swung to a loss in the third quarter, missing analysts’ expectations of a small profit as a conversion of forex loans in several banks in its network eroded its underlying profit, the bank said on Friday.

Showdown in Argentina as Candidates Spar Over FX and Holdouts – Bloomberg Daniel Scioli has one last chance to save his campaign for the Argentine presidency — Sunday’s much-awaited debate with opposition candidate Mauricio Macri. 

 

 

Press Releases

Cartledge Joins EBS – Profit & Loss Tim Cartledge has been appointed chief strategy officer of EBS BrokerTec, effectively immediately. He will report to Gil Mandelzis, CEO and will join both the EBS BrokerTec executive management team and the Icap global executive management group.  

 

 

Industry Events