FXPA Calls for FX Exemption from Funds’ Use of SEC Derivatives Rules
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FXPA Calls for FX Exemption from SEC Derivatives Rules
The Foreign Exchange Professionals Association (FXPA) has submitted comments to the Securities and Exchange Commission (SEC) on its proposed rules governing the “Use of Derivatives by Registered Investment Companies and Business Development Companies”, calling for an exemption for FX swaps and forwards.
U.S. Judge Rejects 14 Banks’ Bid to Throw Out Rate-Rigging Lawsuit
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U.S. Judge Rejects 14 Banks’ Bid to Throw Out Rate-Rigging Lawsuit – Reuters
A federal judge in Manhattan on Monday rejected an effort by 14 of the world’s biggest banks to throw out a private lawsuit accusing them of rigging an interest rate benchmark used in the $553 trillion derivatives market.
China Premier Says Govt Will Cut Taxes, Streamline Administration, Keep Yuan Stable
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China Premier Says Govt Will Cut Taxes, Streamline Administration, Keep Yuan Stable – Reuters
Chinese Premier Li Keqiang said on Thursday that the government would move to ease tax and paperwork burdens on companies, but added that the country is inexperienced in implementing such reforms and there would be challenges.
What Brussels Attacks Mean for Markets
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What Brussels Attacks Mean for Markets – Yahoo Finance
The attacks in the Belgian capital on Tuesday are unlikely to have a long-term impact on markets, but they could result in new roadblocks to cross-border commerce and lend momentum to Euro sceptics, analysts told CNBC. European stocks were under pressure but had come off their lows following deadly attacks at Brussels main airport and on the city’s metro system. U.S. equities were mixed by late morning.
Two Fed Officials Point to Possibility of April Rate Hike
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Two Fed Officials Point to Possibility of April Rate Hike – Bloomberg
Two Federal Reserve officials said interest-rate increases may be warranted as soon as the central bank’s meeting next month, citing solid readings on the U.S. economy despite headwinds from abroad.
China’s Central Bank Chief Sounds Warning Over Rising Debt
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China’s Central Bank Chief Sounds Warning Over Rising Debt – Bloomberg
People’s Bank of China Governor Zhou Xiaochuan sounded a warning over rising debt levels, saying corporate lending as a ratio to gross domestic product had become too high and the country must develop more robust capital markets.
Asia Stocks, Oil Jump as Dollar Sags After Fed
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Asia Stocks, Oil Jump as Dollar Sags After Fed – Reuters
Asian shares edged higher on Friday, oil touched a 2016 high and the U.S. dollar weakened as investors turned more positive on riskier assets after the Federal Reserve’s cautious stance on further interest rate increases.
Britain’s Fraud Office Drops Forex Market Investigation
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Britain’s Fraud Office Drops Forex Market Investigation – Reuters
Britain’s fraud watchdog has ended an investigation into possible foreign exchange market rigging, saying it did not have enough evidence to secure convictions, in a further setback to its efforts to prosecute wrongdoers in financial markets.
Fed to Sit Tight on Rates at March Meet, Hint at Hikes to Come
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Fed to Sit Tight on Rates at March Meet, Hint at Hikes to Come – Reuters
The Federal Reserve won’t raise interest rates this week, but will likely make clear that as long as U.S. inflation and jobs continue to strengthen, economic weakness overseas won’t stop rates from rising fairly soon.
China Burns Hedge Funds as $562 Million Yuan Bet Turns Worthless
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China Burns Hedge Funds as $562 Million Yuan Bet Turns Worthless – Bloomberg
The battle over the fate of China’s currency is starting to get bloody for the bears.