MPs Stop Johnson from Calling October Election – The Times

The next UK general election will not take place before the Brexit deadline of October 31 after Boris Johnson pushed ahead with his historic suspension of parliament.

Fitch says Trade Policy Disruption is ‘Darkening’ Global Economic Outlook – Reuters

The escalation in the ongoing US-China trade war and the prospect of a no-deal Brexit are among trade policy disruptions that are “darkening” the global economic outlook, Fitch Ratings said.

Mnuchin: Currency Will Be a Focus of Next Round of China Talks – Politico

Treasury Secretary Steven Mnuchin said China’s currency practices will be a topic of conversation when high-level officials from Beijing arrive in Washington early next month for another round of trade talks.

FX and the Big Bang Theory – Profit & Loss

As electronic trading went mainstream, it created an explosion of growth in the market. But has this growth run out of steam? 

Currency War Myths and Trades – Seeking Alpha

As the trade war heats up, and non-USD currencies have depreciated, the prevailing opinion is that emerging market currency has been hit hardest as investors’ risk appetite has declined, but is this opinion based on fact? 

Libor Transition: Room for Greater Currency Coordination – Practice Insight

Cross-currency working groups must be more active as the global financial system transitions to risk-free rates from interbank offered rates, market participants say. It isn’t clear yet how transactions based on the new interest-rate benchmarks will interact with cross-currency transactions.

Algo Fears Spark Hunt for Neutral Checks on FX Code Compliance – FXWeek

Concerns about the use of their algorithms as well as their voice footprint in the market is prompting some banks to seek independent verification of their adherence with the FX Global Code of Conduct.

France to Win Britain’s Finance Crown in EU After Brexit: Report –Reuters

France will likely win Britain’s financial services crown in the European Union after Brexit, which leaves the bloc’s economy more reliant on struggling euro zone banks, New Financial think tank said.

Five Challenges Facing Incoming IMF Chief Georgieva – Financial Times

Kristalina Georgieva is poised to succeed Christine Lagarde as managing director of the IMF after the board of the Washington-based multilateral lender said she was the sole contender for the job.

Deadline Looming, Japan Struggles to Elude Trump Tariff Threat – Reuters

Japan’s Prime Minister Shinzo Abe may have averted giving away too much in trade talks with US President Donald Trump but Tokyo is struggling ahead of a late-month deadline to achieve its primary goal: get the unpredictable president to drop threats of punitive auto tariffs.

Regulatory News

British Banks Seek Tweaks to Accountability Rules – Reuters

Britain’s new system of banker accountability has led to a “tangible” improvement in culture but modest changes are still needed, UK Finance said.

SEC Pressures Exchanges on Long-Delayed Market-Surveillance Project – Wall Street Journal

The Securities and Exchange Commission is stepping up pressure on exchanges to finish a huge, long-delayed database designed to help detect market manipulation and investigate episodes of anomalous trading.

The New European Commission Will Be the Most Political Yet – The Economist

Ursula von der Leyen will bend the rules to keep governments happy.

Top US Regulator Warns Over Corporate Debt, Market Risks – Reuters

The head of the top US markets regulator on Monday issued a warning over market risks including rising corporate debt, a UK withdrawal from the European Union, and the transition away from a key lending rate.

Algo Fears Spark Hunt for Neutral Checks on Forex Code Compliance – Risk

Banks seek third-party quantitative methods for confirming activities done in their names are aligned with the principles.

Crypto News

China Outpacing World on Digital Currencies – Axios

China may be taking the lead in the next evolution of money.

Powell: Consumers are Not “Clamouring” for Central Bank Backed Cryptocurrencies – The Block

At a forum in Switzerland sponsored by the Swiss Institute of International Studies, Federal Reserve Chair Jerome Powell spoke about central bank digital currencies and Facebook’s proposed Libra stable coin-like digital currency.

Crypto Firm COO Exits After Less Than a Year in Role – Bloomberg

BitMEX, the cryptocurrency trading platform that is said to be under investigation by U.S. authorities, lost Chief Operating Officer Angelina Kwan weeks shy of her first anniversary.

UK Fund That Aims to Capitalise on Crypto Volatility Raises $50 Million – Coin Desk

UK-licensed Nickel Asset Management says it has raised $50 million for a fund aimed to make profits off the volatility of cryptocurrencies.

Company News

Primary Venues See Volume Rise in August – Profit & Loss

After a desperate July there was better news for the primary FX trading venues in August with all seeing an increase in activity.

Losers from Argentina Rout are Not Giving Up – Financial Times

Fund managers recently burned by Argentina are doubling down on the country’s bonds, saying that prices have dropped to levels that should offer solid returns.

Deutsche Börse’s Eurex Makes Fresh Euro Clearing Push Ahead of Brexit – Financial Times

Deutsche Börse has made a fresh attempt to pull euro interest rate swaps businesses from the UK by announcing it will scrap booking fees until the end of the year for customers that want to switch their portfolios to Frankfurt.

Bloomberg Launches Algo Analytics Service for FXGO – Profit & Loss

Bloomberg has released a new analytics hosting service for algorithmic orders on FXGO, with Goldman Sachs being the first liquidity provider to use it.

Market Savvy

Why Aggressive Monetary Easing is Pushing on a String – Financial Times

The fear of “Japanisation” has, once again, prompted monetary authorities on both sides of the Atlantic to consider additional monetary easing — but for all the wrong reasons.

Australian Pension Funds’ $168 Billion ‘Wall of Cash’ May Lead Overseas –Reuters

Australian pension funds are sitting on a A$245 billion ($167.38 billion) ‘wall of money’ that will probably flow overseas because of a lack of domestic options, asset managers say.

The Hunt for Yield Could Still Get Fiercer – Wall Street Journal

The hunt for yield is back with a vengeance and corporate bonds look to be among the biggest winners.

Big Central Bankers Have Big Problems – Bloomberg

The Fed and ECB are being forced to act, even if it won’t do any good.