The US Federal Reserve cut interest rates again on Wednesday to help sustain a record-long economic expansion but signalled a higher bar to further reductions in borrowing costs, eliciting a fast and sharp rebuke from President Donald Trump.
- Federal Reserve Cuts Rates as Policymaker Splits Deepen – Financial Times
- Powell Stresses Solid US Outlook After Fed Cuts Rates Again – Bloomberg
- Why the Market Crunch will Force Powell into QE – Australian Financial Review
Let’s do it again tomorrow. The Federal Reserve made crystal clear that it doesn’t want U.S. money market rates to spike again like they did early this week, announcing it will – for the third day in a row – inject cash into this vital corner of finance.
European Commission president says ‘very little time’ remains with UK yet to outline backstop solutions.
- Northern Ireland’s DUP Sees Brexit Deal if Both Sides ‘Flexible’ – Reuters
- Finnish PM: UK Must Make Brexit Proposal by September 30 – Politico
Nearly two dozen U.S. lobbying groups have joined forces to try to rein in U.S. President Donald Trump’s power to unilaterally impose tariffs amid growing concern about the negative economic impact of his trade policies.
Benjamin Netanyahu’s political future was hanging in the balance on Wednesday, as a near-complete vote tally from the general election showed his path to a record fifth term as Israeli prime minister blocked, and rivals explored options to dethrone him.
Popular tales of “Mrs. Watanabe” – the canny Tokyo housewife who dabbles in currency trading in between school runs and shopping – barely begin to tell the story of Japan’s retail traders in the foreign exchange market.
Argentina’s central bank raised a floor on its benchmark interest rate to 78% from 58% for the rest of September as the government fights a resurgence in inflation triggered by political uncertainty.
I am struggling to find someone who was not surprised by the BIS data on Monday, but there is one small segment of the industry to whom the report was more of a nightmare than a surprise.
The U.S. Securities and Exchange Commission on Wednesday announced it had followed other federal agencies with responsibility for the financial sector in approving a final set of changes to the Volcker Rule’s ban on proprietary trading.
The U.S. Commodity Futures Trading Commission’s Technology Advisory Committee (TAC) announced today that it will hold a public meeting on Thursday, October 3, 2019, at the CFTC’s Washington, DC headquarters.
Big US banks are using the recent chaos in short-term funding markets as an opportunity to pressure the Federal Reserve to ease liquidity requirements they have long despised.
DSB reports many sell-side institutions are using ISINs for alternative reporting purposes.
Banking giant Wells Fargo is beginning a pilot for a digital currency, with plans to use it to cheaply settle cross border trades.
U.S. law enforcement has charged Steven Nerayoff, an early supporter of the ethereum project and a former paid advisor to Overstock’s tZero, with extortion.
The U.S. Securities and Exchange Commission (SEC) alleged that ICOBox and founder Nikolay Evdokimov violated securities laws with its 2017 token sale and subsequent activity facilitating other initial coin offerings (ICOs).
Hong Kong-based venture capital group CMCC Global launched its Liberty Bitcoin Fund to provide crypto currency access to accredited investors in Asia who are very interested but have been slow to buy the coins directly.
As CME Group prepares to announce the launch of a new platform for EBS Direct, Jeff Ward, global head of EBS, outlines what the platform will offer and how trading venues can differentiate themselves in an increasingly data-driven environment.
Cboe Global Markets, parent company of the Chicago Board Options Exchange, will move its headquarters to the Old Post Office; the trading floor is moving to the Chicago Board of Trade Building.
The Bank for International Settlements (BIS) and the Hong Kong Monetary Authority (HKMA) have today signed an Operational Agreement on the BIS Innovation Hub Centre in Hong Kong SAR.
Deutsche Bank Faces ECB Scrutiny Over Unapproved Debt Deals – Financial TimesDeutsche Bank faces the threat of a European Central Bank investigation after buying and selling its own debt for more than three years without regulatory approval, said people familiar with the matter.
The London Stock Exchange has drafted in bankers from JPMorgan to help it fend off Hong Kong Exchanges and Clearing’s £31.6bn bid.
The dollar stood tall on Thursday after the U.S. Federal Reserve cut rates by 25 basis points, as expected, but its chairman signalled a higher bar for future rate cuts.
Sterling fell on Wednesday after British prices in August grew at their slowest pace since late 2016, while concerns about whether a last-minute Brexit deal was achievable also weighed on the currency.
The markets are vulnerable to potential nasty losses if rates suddenly shoot up.