Top Headlines

IMF: Emerging-Market Troubles Risk Triggering Asset Fire Sales – Wall Street Journal (subscription) Over-borrowing by developing nations may total $3 trillion, the fund says.

Banks Back in the Spotlight over Last Look – Profit & Loss The New York Department of Financial Services is again studying the behaviour of banks around the practice of last look following a series of interviews with staff at major institutions.

Zero No Longer an Emergency Level – Wall Street Journal (subscription) Near-zero interest rates may sound like monetary policy for combating an economic crisis or recession, but not in today’s world.

Dollar Gets Lift From Higher US Yields – Reuters The dollar stood tall against a basket of currencies in early Asian trading on Thursday, though it remained in its recent range as investors’ awaited minutes of the last Federal Reserve meeting.



Regulatory News

Dealers fret over Basel CVA revisions – Risk.Net (subscription) Punitive standardised approach may replace modelling.

Don’t Blame Dodd-Frank for the Slow Recovery – Bloomberg Dodd-Frank has burdened small banks — and the businesses that rely on them — much more than large businesses that have access to capital markets.

Multi-Asset Best Execution and MiFID II – TABBForum While best execution and transaction cost analysis are well-established in equity trading, other asset classes have been slower to adopt such techniques.



Company News

Deutsche Bank Shocks with Warning of €6bn Losses – Guardian Impairment charges and write downs to hit German bank’s third quarter profits.

IG Pays Clients as it Changes Customer Terms – Profit & Loss IG Group Holdings says that after the Financial Ombudsman Service’s (FOS) determination, it will change its customer terms on some accounts affected by the surge in the Swiss franc on January 15 at a cost to the company of around £1 million.

Deutsche Unveils New FX Indices – Profit & Loss Deutsche Bank’s research unit has released a new set of FX positioning indices called Corax which, the bank says, will offer its clients a representative, timely and accurate FX positioning report.

BlackRock Calls for Halting Stock Market to Avoid Volatility – Bloomberg BlackRock Inc., the world’s biggest asset manager, has its own remedy for days of extraordinary volatility in the U.S. equity market: Shut it down.



Market Savvy  

Asia Flags But China Stocks Jump in Catch-Up After Long Break – Reuters Chinese stocks surged on Thursday after a week-long break as they played catch-up with a global rally, while most regional markets retreated with Japanese equities hitting the skids on weak data.

HSBC Cuts Treasury Yield Forecasts on Shallow Fed Rate Path Bets – Bloomberg HSBC Holdings Plc lowered its forecasts for Treasury yields, saying the Federal Reserve won’t be as aggressive in raising interest rates as some investors expect.

Bundesbank to Doubters: Here Is Our Gold. Every. Single. Bit of It. – Bloomberg Germany’s central bank has listed all of its gold.



Press Releases

IBA Selected as New ISDA SIMM Crowdsourcing Utility – ISDA The International Swaps and Derivatives Association, Inc. (ISDA) announce that ICE Benchmark Administration Limited (IBA) has been selected to build and operate a crowdsourcing utility.



Industry Events