Mexico’s central bank cut its key lending rate for the first time since June 2014, citing slowing inflation and increasing slack in the economy, and fueling expectations that further monetary policy easing could be on the way.
Mounting signs of global economic distress this week have alarmed President Donald Trump, who is worried that a downturn could imperil his re-election, even as administration officials acknowledge that they have not planned for a possible recession.
- Trump Says Trade War with China Will Be Fairly Short – Reuters
- This is a Currency War Donald Trump Was Never Going to Win – Financial Times
The US data pouring in supports Federal Reserve Chairman Jerome Powell’s forecast of solid economic growth and higher inflation. Still, economists remain confident that Powell will cut interest rates again next month as insurance against a global slowdown.
- Fed’s Kashkari Says He is Leaning Toward Further Rate Cuts – Reuters
- Fed’s Bullard Doesn’t See Need to Rush into Emergency Rate Cut – Bloomberg
Japan’s 10-year bond yield slipped to the lowest since July 2016, shrugging off an attempt by the central bank to stem its decline amid a global debt rally. New Zealand’s benchmark rate also fell to a new low.
Japan surpassed China in June as the top holder of US Treasuries as the trade war between the world’s two largest economies intensified.
The central bank is preparing a ‘very strong package’ of stimulus measures to support the flagging eurozone economy.
Feeble returns from safer bonds steer funds into longer, shakier instruments.
State Street and the US units of TD Group and UBS all reported value-at-risk backtesting exceptions in Q2, as a result of larger-than-expected trading losses.
Reporting requirement would bar securities without LEIs from being used in financing transactions.
Berkovitz, Behnam highlight “unusual features” about $16 million penalty imposed on Kraft Food without “evidence”.
The Australian Prudential Regulation Authority is looking for a new head of policy and advice, following the resignation this week of Pat Brennan, who had responsibility for developing the regulator’s policies on banks, insurers and super funds.
The liquidation of cryptocurrencies tied to an alleged ponzi scheme has been among the assorted reasons cited by market pundits for this week’s slide in digital assets. A closer looks suggests that may not be the case.
Cryptocurrency exchange Coinbase has acquired the institutional business of cryptocurrency wallet and custody service provider Xapo.
San Francisco-based cryptocurrency exchange Poloniex is going to remove 23 trading pairs ostensibly due to low volume.
Some cryptocurrency investors are receiving a new round of letters from the Internal Revenue Service telling them that their federal tax returns don’t match the information received from virtual currency exchanges, a new front in the agency’s burgeoning scrutiny of the industry.
Britain’s banks have warned the government that they will have just hours to turn around their systems if the UK crashes out of the European Union without a deal on October 31, potentially creating chaos.
Investors have flocked to US bond funds at the fastest clip in two months as volatile trading and a deteriorating growth outlook nudge investors into safer assets.
Volatile markets, recession fears and the US-China trade fight have traders on edge. Now, they are grappling with another problem: garbled data.
A founding partner at the broker, Roady has been president of retail business for the past three years.
Historically, a yield curve inversion precedes a recession. However, following an era of easy money, an inversion might simply signal that markets are expecting loose monetary policy again.
As oil prices and the krone slide, traders watch rate decision of outlier Norges Bank.
Do US central bankers care about what Trump called the “crazy inverted yield curve” or not?
Data science is increasingly being used to compare products, find deals and give tailored guidance.
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