Fed Poised to Mark the End of an Era

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Top Headlines

Fed Poised to Mark the End of an Era – Wall Street Journal (subscription)
Long run of near-zero rates helped cut joblessness and boost U.S. growth, but weak spots linger.


Norway Seen Signaling Rate Cut as Sub-$40 Oil May Halt Growth – Bloomberg
As the oil price rout has reached a new level of grimness, the question is whether the central bank of western Europe’s biggest crude producer will cut rates Thursday or lay in wait until early next year.

Ex-BoE Exec to Chair Blockchain Settlement Project – The Trade
A former Bank of England (BoE) executive director has joined a blockchain-based settlement start-up founded by Peter Randall, the ex-CFO and founder of Chi-X.

Regulatory News

EU Stands Ground on FICC Research Payments – E Financial News
Regulators’ plans to ‘unbundle’ payments – being enacted as part of the revised Markets in Financial Instruments Directive, known as Mifid II – are designed to increase transparency over research fees and address a perceived conflict in equity markets, whereby fund managers direct equity trades to brokers as a way of paying for research they have used, rather than because they offer the best execution.

Company News

FCA Fines Threadneedle £6m – E Financial News
The Financial Conduct Authority has fined Threadneedle Asset Management £6 million for lax controls in its fixed income front office that enabled a fund manager to initiate, execute and book a $150 million trade that could have incurred a $110 million loss for client funds.

HSBC Blazes a Trail in Flagging Asian Fixed Income – The Trade
HSBC continues to lead the way in the Asian fixed income trading by holding an 11.8% market share according to a report by Greenwich Associates.

Saxo Bank’s 10 for 2016 – Drawing Attention to the Unfathomable – Profit & Loss
Saxo Bank has released its annual set of ‘Outrageous Predictions’ for the year ahead – 10 unlikely, yet perhaps underappreciated, events that could have significant consequences on the financial landscape as we head into 2016.

BlackRock Sees RBA Cutting Again, Risk of Further Aussie Decline –Bloomberg
BlackRock Inc. reckons the Reserve Bank of Australia will be forced to lower interest rates as challenges to the nation’s economy mount and there are risks that the currency will fall further.

Reuters Targets Corporates with FX Monitor Launch – Profit & Loss
Thomson Reuters has launched FX Monitor, a product for corporate treasurers, in Eikon Messenger.

Market Savvy  

Currencies Good for Portfolio Diversification, says Merk – Profit & Loss
Merk Investments has released a new whitepaper that makes the case for why asset managers should consider including actively traded currencies in their multi-asset portfolios.

Emerging Market FX Reserves Fall this Year Passes the $500 Billion Mark –Reuters
The world’s biggest emerging markets have run down their foreign exchange reserves by more than half a trillion dollars this year, as policymakers seek to mitigate capital outflows stemming from the oil and commodity price slump.

Press Releases

Deutsche Börse Venture Network Passes 100-Investor Milestone – Deutsche Börse
The first six months since the launch of Deutsche Börse Venture Network, its programme to help young growth companies raise financing, has proved positive with 43 new investors joining the platform since this quarter alone, taking it past the 100-investor milestone.

Industry Events