A wave of social unrest — from Chile and Ecuador to Lebanon – has Moody’s Investors Service worried. The rating company said its 2020 outlook for global sovereign credit is negative, given unpredictable domestic and geopolitical risks and a push for populist policies that weaken institutions, help slow growth and boost the risk of economic and financial shocks.
Looting and roadblocks convulsed Bolivia on Monday after President Evo Morales’ resignation after a disputed election ended 14 years of socialist rule and left a power vacuum his opponents scrambled to fill.
The United States on Monday condemned “unjustified use of deadly force” in the latest Hong Kong violence and urged police and civilians alike to de-escalate the situation, a senior Trump administration official said.
- Violence Brings Hong Kong to ‘Brink of Total Breakdown’: Police – Reuters
- Anti-Government Protesters Vow to Stick with New Strategy After Increased Weekday Violence Brings Hong Kong to Partial Standstill – South China Morning Post
China’s trading of futures climbed 37.38 percent in the first 10 months from a year earlier to 235.43 trillion yuan (33.66 trillion U.S. dollars), according to the China Futures Association.
Analysing whether or not the future will be digital seems obvious – the world is increasingly, and quickly, turning to digital forms of money and new forms of technology to address a wide range of areas in traditional finance. But how far will this transformation go, and which types of firms will take us along the path?
Thus far, some of the acquisitions of OTC FX platforms by exchange groups have not proven to be as fruitful as previously imagined, argues David Mercer, CEO of LMAX Exchange Group.
Wealthy people around the globe are hunkering down for a potentially turbulent 2020, according to UBS Global Wealth Management. A majority of rich investors expect a significant drop in markets before the end of next year, and 25% of their average assets are currently in cash, according to a survey of more than 3,400 global respondents.
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published three sets of technical advice to the European Commission (EC) regarding third-country central counterparties (TC-CCPs) under the revised European Market Infrastructure Regulation (EMIR 2.2).
Germany has urged the EU to toughen its approach to Big Tech, as part of a wider push by Berlin to boost Europe’s “digital sovereignty”.
Boston Fed leader Eric Rosengren warned on Monday many top central banks have a limited tool kit to deal with the next downturn, and added efforts to rollback regulations on banks may be exacerbating risks to the financial sector.
Technology has not yet made a real, fundamental difference to how derivatives transactions are managed, according to ISDA chief Scott O’Malia.
Benoît Cœuré has been picked to head a new unit of the Bank for International Settlements (BIS) charged with producing public alternatives to private digital currency initiatives such as Facebook’s Libra coin.
The Monetary Authority of Singapore (MAS), the city-state’s central bank, has completed development of a blockchain-based cross border payments system that can support a range of currencies.
Bakkt, the cryptocurrency venture backed by Intercontinental Exchange, announced Monday the launch of its institutional custody business.
Cryptocurrency exchange Binance has added support for euro (EUR) for its direct fiat-to-crypto trading facility, according to an announcement Friday.
Switzerland-based cryptocurrency bank SEBA is now fully operational.
The Royal Bank of Canada (RBC), the country’s largest bank with over $965 billion in total assets, could launch a cryptocurrency trading platform.
Credit Suisse has named David Miller the new head of its investment banking and capital markets business, replacing James Amine after four years in charge, as the lender looks to improve performance at the division.
Deutsche Bank has been forced to admit to regulators its role in the UK payment system still suffers serious problems, years after it was first placed in remediation, which has led to tens of thousands of transactions for clients such as Amazon being held up.
Pound Jumps After Brexit Party Pledges Not to Contest Tory Seats – Financial TimesThe pound sprang higher on Monday, after the Brexit party said it would not contest Conservative seats in the upcoming election, but analysts said the lingering chance of a hung parliament and indecision over the terms of divorce from the EU would limit the currency’s rally.
London Races Farther Ahead as Renminbi Trading Hub – Financial TimesLondon is stretching away from its rivals as the world’s biggest centre for trading the renminbi outside China, easing fears that the impact of Brexit could threaten its status as the world’s dominant foreign-exchange hub.
The S&P 500 and Nasdaq stock indexes fell from record highs on Monday as uncertainty about progress in the U.S.-China trade talks again rose to the fore following comments by President Donald Trump, while a jump in Boeing Co shares helped keep the Dow Jones Industrial Average little changed.