RBS Trader Fired in Currency Probe Wins Suit, But No Money – Bloomberg A former senior trader at Royal Bank of Scotland Group Plc who lost his job amid the currency market rigging scandal won part of an employment lawsuit, but received no compensation because a London judge said he would have been fired anyway.
Fed Seen Keeping Interest Rates Steady Amid Market Volatility – Reuters The Federal Reserve is expected to leave interest rates unchanged on Wednesday and acknowledge that turmoil in financial markets threatens its upbeat view of the U.S. economy, leaving the chances of a March hike diminished but alive.
China Shares Tumble Again, Taking 2016 Losses to $2 Trillion – Reuters Chinese shares fell sharply again on Wednesday after plunging in the previous session, taking losses in 2016 to nearly 25 percent or 13 trillion yuan.
China Goes After George Soros – Fortune China’s state press is warning George Soros not to bet against its currency after the hedge fund star-turned philanthropist predicted a “hard landing” for its economy last week.
PBOC Said to Ask China Banks to Suspend Offshore Yuan Loans – Bloomberg China’s central bank gave guidance two weeks ago to some Chinese banks in Hong Kong to suspend offshore yuan lending to curb short selling and tighten liquidity.
Rates Trading Activity Keeps SEF Volumes Level – Profit & Loss On average, $380.3 billion per day was traded on swap execution facilities (SEFs) in December, roughly in line with November but up 22% from December 2014.
Automated Hedge Funds Make Millions in January’s Market Selloff – Wall Street Journal (subscription) Tumbling oil prices, decline in global stocks provide near-ideal conditions for computer-driven funds.